Journal Entry to Correct an Error Legolas Company paid $5,000 cash for executive salaries. When the journal

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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.

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Accounting Concepts And Applications

ISBN: 9780324376159

10th Edition

Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice, Monte R. Swain

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