A cheque from D Pawson, who is a trade receivable, was entered correctly on the debit side of the bank account but was credited to the account of P Dawson, a trade payable. What effect did correcting this error have?
- Atrade receivables decrease; trade payables decrease
- Btrade receivables decrease; trade payables increase
- Ctrade receivables increase; trade payables decrease
- Dtrade receivables increase; trade payables increase