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6- A bill for 740 TL for office supplies purchased on account was debited to equipment, 470 TL and credited to accounts payable, 470 TL.

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6- A bill for 740 TL for office supplies purchased on account was debited to equipment, 470 TL and credited to accounts payable, 470 TL. Correct the error and indicate whether or not the erroneous entry affected net income (e.g. overstated or understated?). Yantnz 7- When making the entry to record the year's depreciation expense, the bookkeeper debited accumulated depreciation for 1.000 TL and credited cash for 1.000 TL. Prepare the correcting entry for this transaction. Yantnz

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