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Ayayai Company has an inexperienced accountant. During the first 2 weeks on the job, the accountant made the following errors in journalizing transactions. All entries
Ayayai Company has an inexperienced accountant. During the first 2 weeks on the job, the accountant made the following errors in journalizing transactions. All entries were posted as made.
1. | A payment on account of $790 to a creditor was debited to Accounts Payable $410 and credited to Cash $410. | |
2. | The purchase of supplies on account for $900 was debited to Equipment $90 and credited to Accounts Payable $90. | |
3. | A $200 cash dividend was debited to Salaries and Wages Expense $200 and credited to Cash $200. |
Prepare the correcting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
No. | Account Titles and Explanation | Debit | Credit |
1. | |||
2. | |||
3. | |||
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