On July 9, 2016, an employee of Capital Corporation mistakenly debited Utilities Expense rather than Telephone Expense

Question:

On July 9, 2016, an employee of Capital mistakenly debited Utilities Expense rather than Telephone Expense when recording a bill of $1,000 for the May telephone service. The error was discovered on July 30. Prepare a general journal entry to correct the error.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...