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Crane Inc. mistakenly recorded a cheque as $789 that was written for $879 in payment of a payable owing to one of the company's suppliers.

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Crane Inc. mistakenly recorded a cheque as $789 that was written for $879 in payment of a payable owing to one of the company's suppliers. In addition, the company noticed the bank had mistakenly deducted a cheque for $438 from its bank account that was written by another company. (b) Identify any entries required on Crane's books to correct these errors. (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 o for the amounts.) Account Titles and Explanation Debit Credit (To correct error by company) (To correct error by bank)

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