At Westglow Company, the following errors were discovered after the transactions had been journalized and posted.

Prepare the necessary correcting entry for each of the following.

a. A collection on account of $500 was debited to Cash $500 and credited to Service Revenue $500.

b. The purchase of supplies on account for $1,250 was recorded as a debit to Supplies for $1,550 and a credit to Accounts Payable for

$1,550.

PLEASE EXPLAIN IN DETAIL.