PRC-1 · Chapter 9 · Question 61 of 100
If the payment side of the cash book is found to be under-casted, what is the correcting entry in the cash book?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Credit the cash book
Explanation
The payment side (credit side) is short. It requires an additional credit entry in the cash book to correct the total and accurately reflect the balance.
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