Neco Model Questions Vol1 2021 Financial Accounting Question 34

The following transactions were recorded in the books of XYZ Enterprises for January:\n\n1. 1 Jan - Purchased inventory on credit ₦50,000 (recorded correctly in the Purchases Journal).\n2. 2 Jan - Received cash from a customer ₦30,000 (mistakenly recorded in the Purchases Journal as a purchase).\n3. 3 Jan - Paid cash for utilities ₦8,000 (recorded in the Cash Payments Journal).\n4. 4 Jan - Sold goods for cash ₦45,000 (recorded in the Cash Receipts Journal).\n\nAt the end of the month, the Purchases Journal shows total debits of ₦80,000 and credits of ₦50,000, while the Cash Receipts Journal shows total debits of ₦0 and credits of ₦45,000. Identify the correct journal for the erroneous transaction, adjust the journal totals accordingly, and state whether the trial balance after these corrections will be balanced.