Mathematics · Accounting and Aptitude
When recording a sales invoice for a credit customer, Date Co recorded the net amount as $1,000 instead of $100. Date Co is registered to account for sales tax at 10%. What journal adjustment should Date Co make to correct this error?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Dr Non-current assets $500, and Cr Repairs $500
- 2Dr Sales $900, Dr Sales Tax $90, and Cr Receivables $990✓
- 3Dr Repairs $575, and Cr Non-current assets $575
- 4Dr Repairs $500, and Cr Non-current assets $500
Correct answer
Dr Sales $900, Dr Sales Tax $90, and Cr Receivables $990
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