Anonymous
Apr 7
A payment of TZS 56000 for postage had been posted to that account as TZS .65000.what is the journal entry for this statement?
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Apr 7
The journal entry to correct the payment of TZS 56000 for postage that had been posted as TZS 65000 would be as follows:
Debit: Postage Expense - TZS 65000
Credit: Postage Expense - TZS 56000
Credit: Miscellaneous Expense - TZS 9000
This entry corrects the overstatement of postage expense by debiting the correct amount and crediting the excess amount to miscellaneous expense.
Debit: Postage Expense - TZS 65000
Credit: Postage Expense - TZS 56000
Credit: Miscellaneous Expense - TZS 9000
This entry corrects the overstatement of postage expense by debiting the correct amount and crediting the excess amount to miscellaneous expense.
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