The following errors took place in journalizing and posting transactions: a. Cash of $8,800 received on account

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The following errors took place in journalizing and posting transactions:

a. Cash of $8,800 received on account was recorded as a debit to Fees Earned and a credit to Cash.

b. A $1,760 purchase of supplies for cash was recorded as a debit to Supplies Expense and a credit to Accounts Payable.

Journalize the entries to correct the errors. Omit explanations.

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Financial And Managerial Accounting

ISBN: 9781337119207

14th Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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