ACCA · Question 09 · The Use of Double-Entry and Accounting Systems
In a manufacturing company, the total of the list of balances from the payables ledger is $34,500, but the payables control account balance is $35,200. It is discovered that a purchase invoice for $700 was entered in the purchase day book but omitted from the supplier's individual account. How should this be resolved?
Answer options:
Debit the control account with $700; make no adjustment to the list of balances.
Credit the control account with $700; add $700 to the list of balances.
Add $700 to the list of balances; make no adjustment to the control account.
Deduct $700 from the list of balances; make no adjustment to the control account.
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