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
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