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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
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Phoniex University
Oct-2001 - Nov-2016
MC Qu. 132 A $72,000 receipt of cash from a customer pa... A $72,000 receipt of cash from a customer paying on their account was recorded as a $72,000 debit to Accounts Receivable. Assuming this journal entry was posted, what correcting entry (if any) is needed? Debit Cash and Credit Accounts Receivable for $72,000 each Debit Cash and Credit Accounts Receivable for $144,000 each Credit Cash and Debit Accounts Receivable for $72,000 each Credit Cash and Debit Accounts Receivable for $144,000 each No correcting entry is needed for this transaction
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