If a recorded transaction shows that both accounts have the correct debits and credits, the debit and credit entries in the ledger align and the trial balance remains unaffected.
Effect on Accounts
The debited account is credited and the credited account is debited.
The correct entry should have twice the amount to erase the effect of the incorrect entry and establish the correct entry.
Interest charged by the bank, $148, was entered in the debit side of the cash book and posted to the credit of the interest account.