Anonymous
Apr 7
A payment of TZS 960000 for an electricity bill had been entered in the cash book but the double entry had not been made.prepare the journal entry necessary to correct the errors?
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Apr 7
The journal entry to correct the errors would be as follows:
Debit: Electricity Expense - TZS 960,000
Credit: Accounts Payable - TZS 960,000
This entry will correct the error by recognizing the expense for the electricity bill and recording the corresponding liability to the supplier.
Debit: Electricity Expense - TZS 960,000
Credit: Accounts Payable - TZS 960,000
This entry will correct the error by recognizing the expense for the electricity bill and recording the corresponding liability to the supplier.
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