The following errors took place in journalizing and posting transactions: (a) Cash of $12,975 received on account
Question:
(a) Cash of $12,975 received on account was recorded as a debit to Fees Earned and a credit to Cash.
(b) A $3,200 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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a Cash 25950 Fees Earned 12975 Accounts Receivable ...View the full answer
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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