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Crane Inc. mistakenly recorded a cheque as $587 that was written for $683 in payment of a payable owing to one of the company's suppliers.

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Crane Inc. mistakenly recorded a cheque as $587 that was written for $683 in payment of a payable owing to one of the company's suppliers. In addition, the compary noticed that the bank had mistakenly deducted a cheque for $428 from its bank account that was written by another company. (b) Identify any entries required on Crane's books to correct these errors. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

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