Accounti Hayes Company has employed a bookkeeper who is inexperienced. On December 27, after reviewing the records for the year, you discover the following error On May 1, Hayes Company purchased Supplies on account, $840. The bookkeeper recorded this by debiting Supplies Expense for $480 and crediting Cash for $480. Note: Assume that it is the company's policy to record the purchase of supplies in the Supplies account. Required Prepare a correcting entry on December 27. Make sure to enter the day for each separate transaction Date Account Title Debit Credit