Maria Landin is responsible for recording all of the transactions for Marshall’s Home Care, which uses the standard set of special journals in its accounting information system (AIS). This is Maria's first job as a staff accountant, and she wants to do an excellent job fulfilling her professional responsibilities. Last week, she recorded numerous cash payments for bills in the computerized accounting information system. She now realizes that she selected the incorrect cash account. She selected the savings account instead of the checking account. Maria knows that she could go back into each transaction and make the correction without anyone knowing that she made the mistake, but she is unsure of what to do. Requirement #1: Please clearly identify two distinct options available to Maria. To be sure that you are clear, you can number them "Option #1" and "Option #2" which will help me. You do NOT explain why those are your options. You merely identify them in specific detail, referencing any relevant special journals as needed. Requirement #2: Given those two options in Requirement #1, which option should Maria select and why? You will prepare a comprehensive detailed response and include a thorough explanation for your response, again, referencing any relevant special journals. Please fully explain yourself.
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Maria Landin is responsible for recording all of the transactions for Marshall’s Home Care, which uses the standard set of special journals in its accounting information system (AIS). This is Maria's first job as a staff accountant, and she wants to do an excellent job fulfilling her professional responsibilities. Last week, she recorded numerous cash payments for bills in the computerized accounting information system. She now realizes that she selected the incorrect cash account. She selected the savings account instead of the checking account. Maria knows that she could go back into each transaction and make the correction without anyone knowing that she made the mistake, but she is unsure of what to do.
Requirement #1: Please clearly identify two distinct options available to Maria. To be sure that you are clear, you can number them "Option #1" and "Option #2" which will help me. You do NOT explain why those are your options. You merely identify them in specific detail, referencing any relevant special journals as needed.
Requirement #2: Given those two options in Requirement #1, which option should Maria select and why? You will prepare a comprehensive detailed response and include a thorough explanation for your response, again, referencing any relevant special journals. Please fully explain yourself.