Unless your instructor states otherwise, you may use either one or two journal entries, with explanations, to

Question:

Unless your instructor states otherwise, you may use either one or two journal entries, with explanations, to make the following corrections:
1. Suppose HEC paid an account payable of $2,400 and erroneously debited Supplies. The error correction was recorded on June 5.
2. Suppose HEC made the following adjusting entry to record amortization:

3. Suppose, in closing the books to a profitable year, HEC made this closing entry:

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Horngrens Accounting Volume 1

ISBN: 9780135359709

11th Canadian Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood

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Question Posted: Mar 31, 2017 03:07 PM

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Unless your instructor states otherwise, you may use either one or two journal entries, with explanations, to

Question:

May 31 4,000 Furniture 4,000 Aug. 31 Income Summary 59,200 Service Revenue 59,200

Step by Step Answer:

Journal ACCOUNT TITLES AND EXPLANATIONS POST REF DEBIT CREDIT 1 Jun 5 Accounts Payable 2400 Supplies ...View the full answer

Horngrens Accounting Volume 1

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