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Errors in Recording Transactions Chappy's Chapstick, Inc. recently hired a new accountant, who made the following errors: Recorded a $200 cash purchase of inventory as
Errors in Recording Transactions Chappy's Chapstick, Inc. recently hired a new accountant, who made the following errors: Recorded a $200 cash purchase of inventory as a debit to inventory and a credit to accounts payable. Failed to record the payment of $300 for advertising for the period. Debited supplies for $150 and credited cash for invoice amount of $510. Recorded $100 cash received for services but forgot to record the service revenue. Required: Hide a. Recreate each entry that was made. If no entry is required, select "No Entry Required" and leave the amount boxes blank. Prepare each entry that should have been made
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