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NEW QUESTION: 1
The client entered a miscellaneous receipt by mistake; it was posted to General Ledger.
Now the miscellaneous receipt needs to be reversed. Which method would you advise the client to use?
A. Carry out a debit memo reversal of the miscellaneous receipt.
B. Create a receivable activity adjustment for the reversal of the miscellaneous receipt.
C. Carry out a standard reversal of the miscellaneous receipt.
D. Create a journal entry in General Ledger to reverse the accounting impact created by the posting of the miscellaneous receipt.
E. Create an adjustment in receivables for the reversal of the effect of the miscellaneous receipt.
Answer: A
Explanation:
Explanation/Reference:
http://download.oracle.com/docs/cd/A60725_05/html/comnls/us/ar/recpts13.htm

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