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Culver Company discovered the following errors made in January 2019. 1. A payment of Salaries and Wages Expense of $580 was debited to Equipment and
Culver Company discovered the following errors made in January 2019. 1. A payment of Salaries and Wages Expense of $580 was debited to Equipment and credited to Cash, both for $580. 2. A collection of $3,700 from a client on account was debited to Cash $370 and credited to Service Revenue $370. 3. The purchase of equipment on account for $730 was debited to Equipment $450 and credited to Accounts Payable $450.
No. Account Titles and Explanation Credit Debit 580 1. Salaries and Wages Expense 0 580 Equipment (To reverse the incorrect entry) (To record the correct entry) Cash Service Revenue (To reverse the incorrect entry) Accounts Receivable (To record the correct entry) 3. Equipment 280 Accounts Payable (To reverse the incorrect entry) (To record the correct entry) SHOW LIST OF ACCOUNTS LINK TO TEXT Correct the errors without reversing the incorrect entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit No. 1. Cash Equipment Click if you would like to show Work for this question: Open Show WorkStep by Step Solution
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