Accounting · Rectification of Errors
Leonard, a sole trader, discovers that drawings amounting to $38,100 have been debited to the 'other expenses' account in error. What rectifying journal entry must be made?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Dr Suspense account and Cr Other expenses account
- 2Dr Drawings account and Cr Suspense account
- 3Dr Other expenses account and Cr Capital account
- 4Dr Drawings account and Cr Other expenses account✓
Correct answer
Dr Drawings account and Cr Other expenses account
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