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Correct the following 1- On May 10, Mercato Co. journalized and posted a $800 cash collection on account from a customer as a debit to
Correct the following
1- On May 10, Mercato Co. journalized and posted a $800 cash collection on account from a customer as a debit to Cash $800 and a credit to Service Revenue $800. The company discovered the error on May 20, when the customer paid the remaining balance in full.
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