The following errors took place in journalizing and posting transactions: a. Cash of $3,750 received on account
Question:
a. Cash of $3,750 received on account was recorded as a debit to Fees Earned and a credit to Cash.
b. A $1,500 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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Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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