O-LevelAccountingVerification of accounting records7707/11 · May/June 2012 · Q101 Mark
Chang owed Tan $130 which he paid by cheque. Tan credited the bank account and debited Chang's account. Which journal entry will correct this error?
Adebit $: bank 130, credit $: Chang 130
Bdebit $: Chang 130, credit $: bank 130
Cdebit $: bank 260, credit $: Chang 260
Ddebit $: Chang 260, credit $: bank 260
✓ Correct answer
C: debit $: bank 260, credit $: Chang 260
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