select the correct answer. jamie posted all the journal entries into the ledgers. after the postings, jamie…

select the correct answer. jamie posted all the journal entries into the ledgers. after the postings, jamie realizes that the debit side of the travel account is greater than the credit side. what does this signify? a. there is a closing debit balance in travel account b. there is a closing credit balance in travel account c. there has been an error in posting, as the ledger should have no closing balance d. there has been an error in journal entry as credit side should be greater than the debit side

select the correct answer. jamie posted all the journal entries into the ledgers. after the postings, jamie realizes that the debit side of the travel account is greater than the credit side. what does this signify? a. there is a closing debit balance in travel account b. there is a closing credit balance in travel account c. there has been an error in posting, as the ledger should have no closing balance d. there has been an error in journal entry as credit side should be greater than the debit side

Answer

Brief Explanations:

In accounting, when the debit - side of an account is greater than the credit - side after postings, it results in a closing debit balance. Ledger accounts can have closing balances, and there is no rule that credit side must be greater than debit side in all cases.

Answer:

A. there is a closing debit balance in travel account