The following errors took place in journalizing and posting transactions: a. Cash of $7,550 received on account

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The following errors took place in journalizing and posting transactions:
a. Cash of $7,550 received on account was recorded as a debit to Fees Earned and a credit to Cash.
b. A $1,350 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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Corporate Financial Accounting

ISBN: 978-0357510384

16th Edition

Authors: Carl S Warren, Jeff Jones

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