Answer to Question #291837 in Accounting for sahib

Question

An accountant has debited an asset account for $35000 and credited a revenue account for $50000. What can be done to complete the recording of the transaction?

Credit another asset account for $15000.

Nothing further can be done.

Credit a shareholders’ equity account for $15000.

Debit another asset account for $15000.

Answer 1

Debit another asset account for $15000