A loan of Rs 100000 was taken from a friend Ram, but instead it was recorded as Rs 10,000 in the books. To rectify this mistake which of the following is correct? A . &nbspRam`s account shall be debited by Rs 90000 B . &nbspRam`s account shall be credited by Rs 90000 C . &nbspBank Account shall be debited by Rs 90000 D . &nbspB&C Both

A loan of Rs 100000 was taken from a friend Ram, but instead it was recorded as

Trial Balance And Rectification Of Errors

Question

A loan of Rs 100000 was taken from a friend Ram, but instead it was recorded as Rs 10,000 in the books. To rectify this mistake which of the following is correct?

A . Ram`s account shall be debited by Rs 90000

B . Ram`s account shall be credited by Rs 90000

C . Bank Account shall be debited by Rs 90000

D . B&C Both

Solution
Answer: Option D
: D

To rectify this error bank account shall be debited & Ram`s account shall be credited by Rs 90000.

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