Errors in Sales Book

The errors in the sales book are:

1. Error in Amount: The amount of the sale was wrongly recorded as Rs 753, instead of Rs 573.

2. Error in Posting: The sale was posted to the credit of the customer, which is incorrect.

Correct Entry

The correct entry for the sale of Rs 573 would be:

Date | Particulars | Invoice No. | Amount
-----|------------|------------|-------
DD/MM/YY | Sales A/c | XXX | 573
DD/MM/YY | Customer A/c | XXX | 573

Wrong Entry

The wrong entry made in the sales book is:

Date | Particulars | Invoice No. | Amount
-----|------------|------------|-------
DD/MM/YY | Sales A/c | XXX | 753
DD/MM/YY | Customer A/c | XXX | 753

Rectified Entry

The rectified entry for the sale of Rs 573 would be:

Date | Particulars | Invoice No. | Amount
-----|------------|------------|-------
DD/MM/YY | Sales A/c | XXX | 573
DD/MM/YY | Customer A/c | XXX | 573

Explanation

Errors in the sales book can occur due to various reasons such as human error, lack of attention, and incorrect calculations. In this case, the error occurred in recording the amount of the sale and posting it to the wrong account.

The correct entry for the sale of Rs 573 should have been made with the correct amount and posted to the respective accounts. However, the wrong entry was made with the incorrect amount and posted to the wrong account.

To rectify the error, the correct entry was entered with the correct amount and posted to the respective accounts. This ensures that the accounts are accurately maintained and the financial statements reflect the true financial position of the company.

Customer ac dr 180
to suspense ac 180 (753-573)
(Being wrong amount posted to customer ac now rectified)