Crane Company discovered the following errors made in January 2022. 1. 2. 3. A payment of Salaries and Wages Expense of $360 was debited to Equipment and credited to Cash, both for $360. A collection of $2,900 from a client on account was debited to Cash $290 and credited to Service Revenue $290. The purchase of equipment on account for $510 was debited to Equipment $150 and credited to Accounts Payable $150. Correct the errors by reversing the incorrect entry and then preparing the correct entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation 1. Debit Credit

Crane Company discovered the following errors made in January 2022. 1. A payment of Salaries and Wages Expense of $360 was debited to Equipment and credited to Cash, both for $360. 2. A collection of $2,900 from a client on account was debited to Cash $290 and credited to Service Revenue $290. 3. The purchase of equipment on account for $510 was debited to Equipment $150 and credited to Accounts Payable $150. Correct the errors by reversing the incorrect entry and then preparing the correct entry. (Credit account tities are automatically indented when amount is entered. Do not indent monuolly.)