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What was the error for tl

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Reference no: EM132761225

Problem 1: An accountant of a firm makes a correction entry for an error in a single transaction in which 10.000 TL has been collected but no revenue has been earned yet as follows: CORRECTION ENTRY => debit cash by 20.000 TL, credit unearned revenue by 10.000 TL, credit sales revenue by 10.000 TL. What was the error?

a) The firm has debited cash by 10.000 TL and credited unearned revenue by 10.000 TL.

b) The firm has credited sales revenue by 10.000 TL and credited cash by 10.000 TL

c) The firm has debited unearned revenue by 10.000 TL and credited sales revenue by 10.000 TL.

d) The firm has credited cash by 10.000 TL and debited sales revenue by 10.000 TL.

e) Other:

Reference no: EM132761225

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