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Current Attempt in Progress Pharoah Company has an inexperienced accountant. During the first two weeks on the job, the accountant made the following errors in
Current Attempt in Progress Pharoah Company has an inexperienced accountant. During the first two weeks on the job, the accountant made the following errors in journalizing transactions. All incorrect entries were posted. 1. 2. 3. A payment on account of $750 to a creditor was debited $590 to Accounts Payable and credited $590 to Cash. The purchase of supplies on account for $650 was not recorded. A $340 withdrawal of cash for L. Pharoah's personal use was debited $340 to Salaries Expense and credited $340 to Cash. Received $700 cash from a customer on account. Cash was debited $700 and Service Revenue was credited $700. A customer was billed $400 for services provided. Accounts Receivable was debited $400 and Unearned Revenue was credited $400. 4. 5. Account Titles and Explanation Debit Credit 1. Accounts Payable 160 Cash 3. > 4. 5.
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