Journal Entry to Correct an Error Legolas Company paid $5,000 cash for executive salaries. When the journal
Question:
Journal Entry to Correct an Error Legolas Company paid $5,000 cash for executive salaries. When the journal entry to record this $5,000 payment was made, the payment was mistakenly added to the cost of land purchased by Legolas. The $5,000 should have been recorded as salary expense. Make the journal entry necessary to correct this error.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Accounting Concepts And Applications
ISBN: 9780324376159
10th Edition
Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice, Monte R. Swain
Question Posted: