Cash paid to jake, N2,500 was entered on the credit side ...
Cash paid to jake, N2,500 was entered on the credit side of his account and debited to cash account. This is an error of
Principle
Commision
Complete reversal of entries
Original entry
Correct answer is C
Error of Complete Reversal Entry – As the name implies, this means that the debit and credit entry recorded for a particular transaction are reversed. The transactions are incorrect but because the amount is the same or equal at both sides, the trial balance still balanced.
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