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Hi everybody,
A quick question for you guys. I am given a trial balance with some selling expenses. The exercise ask me to input £140 worth of selling expenses paid by cheque (Bank) in an updated trial balance.
Issue is I soustracted £140 from the selling expenses, as it is an expense and decrease the Bank account by the same amount. But both accounts are on the debit side of the trial balance... And now the Trial balance doesn't square due to £280 more on the credit side...
Anyone knows what to do? I am unsure about which account to increase in the credit side...
Cheers!
Edited at 09 Feb 2015 06:40 PM GMT
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