The following mistakes in the accounting records have been discovered and corrected. 1 A purchase invoice worth $250 was not entered in the books of account. 2 A sale of $120 to X was posted to Y’s account instead. 3 The sales journal was overstated by $100. Before these errors were corrected, the gross profit for the year was $60 200. What should the gross profit for the year be after the correction?
- A$59 850
- B$59 970
- C$60 350
- D$60 550