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Rectification of one-sided error.

sir can u plz explain this entry to me. :-
credit sales recorded in sales book but not posted into party's accounts .

asked Oct 27, 2016 in Rectification of Errors by cute shanaya (18 points) 1,769 views

1 Answer

0 votes

When some goods are sold on credit, entry is made is the sales book.  From their every party to whom goods have been sold on credit is debited and sales account is credited with the total of credit sales made during that specific period. This is an error of PARTIAL OMISSION. As this is a one-sided error,  trial balance does not tally. 

answered Oct 28, 2016 by jbsclasses (3,971 points)