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At Raymond Company, the following errors were discovered after the transactions had been journalized and posted. A collection on account from a customer for $930
At Raymond Company, the following errors were discovered after the transactions had been journalized and posted. A collection on account from a customer for $930 was recorded as a debit to Cash $930 and a credit to Service Revenue $930 The purchase of store supplies on account for $1, 550 was recorded as a debit to Supplies $1, 180 and a credit to Accounts Payable $1, 180. Prepare the correcting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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