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WAEC Financial Accounting 2024 Question 30

Question 30

Correction of Errors and Suspense Account

A credit purchase of D 63 from Koffi has been entered in the accounts as D 36. This is an error of

  1. A.principle.
  2. B.original entry.
  3. C.complete reversal of entry.
  4. D.omission.
Show the answer and explanation

Answer: B (original entry.)

Explanation

The wrong amount was used from the start in both entries, so it is an error of original entry.