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At Creighton Company, the following errors were discovered after the transactions had been journalized and posted. 1. A collection on account from a customer for
At Creighton Company, the following errors were discovered after the transactions had been journalized and posted.
1. | A collection on account from a customer for $1,000 was recorded as a debit to Cash $1,000 and a credit to Service Revenue $1,000. | |
2. | The purchase of store supplies on account for $1,170 was recorded as a debit to Supplies $1,710 and a credit to Accounts Payable $1,710. |
Prepare the correcting entries
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