What should you investigate before making a decision about the correcting entry?
Answer the following IN YOUR OWN WORDS. Respond to each of the following in a minimum of 175 words.
As the full-time bookkeeper, your job is to make any corrections to the general ledger accounts. Each correction needs the reason for the change and the effect on each account, whether it is an increase or decrease.
For the third time this month, a co-worker has
recorded a cash receipt twice and wants you to record a correcting entry that
will reverse the mistakes. The correcting entry will record a credit to the
Cash account and a debit to the Sales account. Your co-worker has offered to
buy you dinner for fixing this mistake.
1.What should you investigate before making a decision about the correcting entry?
2.What is happening to the Cash account?
3.Would you accept a dinner offer from your co-worker for fixing the mistake?
Image preview what should you investigate before making a decision about the correcting entry?
APA
608 words