An examination of the financial accounts of Star Corporation for the month of September

2021 revealed the following errors after the transactions were journalised and posted. Prepare

correcting entries for each of the above assuming the erroneous entries are not reversed.

(1) When making the entry to record the year's depreciation expense, the bookkeeper debited

Accumulated Depreciation for RM5,000 and credited Cash for RM5,000.

(2) When accruing interest on a note payable, the accounts clerk debited Interest Receivable

for RM4,000 and credited Interest Payable for RM4,000.

(3) A cheque for RM1,160 was received as payment on account. The accounts clerk debited

Accounts Payable for RM1,700 and credited Accounts Receivable for RM1,700.

(4) A collection of RM12,000 from a client on account was debited to Cash RM4,000 and

credited to Service Revenue RM4,000.

(5) A cheque for RM1,400 was issued for goods previously purchased on account. The

accounts clerk debited Accounts Receivable and credited Bank for RM1,400.