Assuming that all entries have been posted, prepare correcting entries for each of the following errors. 1.
Question:
Assuming that all entries have been posted, prepare correcting entries for each of the following errors.
1. The following entry was made to record the purchase of $500 in supplies on account:
Supplies 142 500
Cash 101 500
2. The following entry was made to record the payment of $300 in wages:
Rent Expense 521 300
Cash 101 300
3. The following entry was made to record a $200 payment to a supplier on account:
Supplies 142 100
Cash 101 100
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