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R's 40000 paid to B was debited to A's account?
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R's 40000 paid to B was debited to A's account?
Incorrect Debit Entry:
- Explanation of the scenario: When R's payment of 40000 to B is debited to A's account, it means that there has been an error in recording the transaction. This could have occurred due to a mistake made by the bank or a clerical error.
- Impact on A's account: A's account will show a decrease of 40000, which is incorrect as A did not make this payment. This can lead to confusion and financial discrepancies in A's records.
- Rectifying the error: The first step is to identify the error and investigate how it occurred. This may involve contacting the bank or the party who made the payment to rectify the mistake. A correction entry should be made to transfer the amount from A's account to B's account.
- Importance of accurate record-keeping: This incident highlights the importance of maintaining accurate records and monitoring transactions regularly. Errors like these can have serious consequences and it is crucial to identify and rectify them promptly.
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R's 40000 paid to B was debited to A's account?
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R's 40000 paid to B was debited to A's account? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about R's 40000 paid to B was debited to A's account? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for R's 40000 paid to B was debited to A's account?.
R's 40000 paid to B was debited to A's account? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about R's 40000 paid to B was debited to A's account? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for R's 40000 paid to B was debited to A's account?.
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