A journal entry for a $290 payment to purchase office supplies was erroneously r

Question

A journal entry for a $290 payment to purchase office supplies was erroneously recorded as a debit to Office Supplies for $600 and a credit to Cash for $290. Which of the following statements correctly states the effect of the error on the trial balance?

A) The sum of the credits will exceed the sum of the debits by $310.

B) The sum of the debits will exceed the sum of the credits by $290.

C) The sum of the debits will exceed the sum of the credits by $310.

D) The sum of the debits will exceed the sum of the credits by $600.

Explanation / Answer

C) The sum of the debits will exceed the sum of the credits by $310.

The sum of the debits will exceed the sum of the credits by:

= $600 - $290

= $310

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