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
-
A.
Principle -
B.
Commision -
C.
Complete reversal of entries -
D.
Original entry
Correct Answer: Option C
Explanation
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.