1) M. Sands, CPA, collected fees of $650 not previously billed or recorded. The journal entry to record the collection would be:
A) Accounting Fees 650
Cash 650
B) Accounts Receivable 650
Cash 650
C) Cash 650
Accounting Fees 650
D) Cash 650
M. Sands, Capital 650

2) When a number is recorded as 856 instead of 865 it is called a:
A) slide.
B) rearrangement.
C) composition
D) transposition.

3) A $600 check written for supplies was journalized as $60. The entry to correct this error is:
A) debit Supplies, $540; credit Cash, $540.
B) debit Supplies, $60; credit Cash, $60.
C) debit Cash, $540; credit Supplies, $540.
D) debit Cash, $60; credit Cash, $60.

4) Proof that the dollar amount of the debits equals the dollar amount of the credits in the ledger means:
A) all accounts have their correct balances in the ledger.
B) all of the information from the journal was correctly transferred to the ledger.
C) only that the debit dollar amounts equal the credit dollar amounts.
D) only the ledger is accurate; the journal may be incorrect