When comparing the receipt to the journal entry, are the amounts entered correctly?

When comparing the receipt to the journal entry, are the amounts entered correctly?

• A. No. The amount should be entered as $11.21.
• B. No. The amount should be entered as $10.57.
• C. Yes. The amount is recorded correctly.
• D. No. The amount should be entered as $10.64.

Answer: (C)

When you compare a receipt to its journal entry, you’re testing whether the amount posted in the books matches the amount shown on the source document. If the numbers are the same, the entry reflects the transaction correctly and is said to be recorded accurately. In this case, the amounts align, so the journal entry is recorded correctly. If there were a mismatch, it would signal an error needing adjustment—causes could include data-entry mistakes or misapplied tax, discounts, or accounts. The key habit is to always confirm that the posted amount equals the receipt amount, and that the journal entry remains balanced.

When you compare a receipt to its journal entry, you’re testing whether the amount posted in the books matches the amount shown on the source document. If the numbers are the same, the entry reflects the transaction correctly and is said to be recorded accurately. In this case, the amounts align, so the journal entry is recorded correctly. If there were a mismatch, it would signal an error needing adjustment—causes could include data-entry mistakes or misapplied tax, discounts, or accounts. The key habit is to always confirm that the posted amount equals the receipt amount, and that the journal entry remains balanced.