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
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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