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Exercise 4-10 Prepare a correcting entry (or entries), with explanations, for each of the following account- ing errors: Correcting accounting errors a. Debited Supplies and

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Exercise 4-10 Prepare a correcting entry (or entries), with explanations, for each of the following account- ing errors: Correcting accounting errors a. Debited Supplies and credited Accounts Payable for a $9,000 purchase of office equip ment on account. Interest Revenue. This adjusting entry should have debited Rent Expense and credited Prepaid Rent for b. Accrued interest revenue of $3,000 by a debit to Accounts Receivable and a credit to c. Adjusted prepaid rent by debiting Prepaid Rent and crediting Rent Expense for $4,000 d. Debited Salary Expense and credited Accounts Payable to accrue salary expense of e. Recorded the earning of $7800 service revenue collected in advance by debiting $4,000. $12,000 Accounts Receivable and crediting Service Revenue

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