The client entered a miscellaneous receipt by mistake; it was posted to General Ledger. Now the miscellaneous receipt needs to be reversed. Which method would you advise the client to use?

Question

Options

• ACarry out a standard reversal of the miscellaneous receipt.
• BCarry out a debit memo reversal of the miscellaneous receipt.
• CCreate a receivable activity adjustment for the reversal of the miscellaneous receipt.
• DCreate an adjustment in receivables for the reversal of the effect of the miscellaneous receipt.
• ECreate a journal entry in General Ledger to reverse the accounting impact created by the posting

• A
  74% (35)
• B
  2% (1)
• C
  15% (7)
• D
  6% (3)
• E
  2% (1)

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