Which of the following errors, considered individually, would ...

[ETearle]

Which of the following errors, considered individually, would cause the trial balance totals to be unequal?
 a. Cash received from a customer on account was posted as a credit of 220 to Cash and a debit of 220 to Accounts Receivable.
   b. A payment of 76 for supplies was posted as a debit of 67 to Supplies Expense and a credit of 76 to Cash.
   c. A payment of 391 to a creditor was posted as a debit of 931 to Accounts Payable and a credit of 931 to Cash.
   d. A receipt of 252 from a customer was posted as a debit of 225 to Cash and a credit of 225 to Accounts Receivable.
   e. A payment of 83 to pay the telephone bill (received last week) was posted as a debit of 38 to Accounts Payable and a credit of 38 to cash.

Question 2

Fair market value proposes an actual sale price for cash.
 
  Indicate whether the statement is true or false

[Awesome]

Answer to Question 1

b

Answer to Question 2

FALSE
Explanation: Fair market value proposes a hypothetical sale price for cash.