Exercise 4-12 a-b (Video) Blossom Company discovered the following errors made in January 2020. 1. 2 A payment of Salaries and Wages Expense of $360 was debited to Equipment and credited to Cash, both for $360. A collection of $2,900 from a client on account was debited to Cash $290 and credited to Service Revenue $290. The purchase of equipment on account for $360 was debited to Equipment $870 and credited to Accounts Payable $870. El your answer is partially correct. Try again. Correct the errors by reversing the incorrect entry and preparing the correct entry. (Credit account tities are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. Cash 360 Equipment 360 (To reverse the incorrect entry) Salaries and Wages Expense 360 Cash 360 (To record the correct entry) 2. Service Revenue 290 Policy 1 2000-2020 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. slon 4.24 21 Cash 360 (To record the correct entry) 2. Service Revenue 290 Cash 290 (To reverse the incorrect entry) Cash 2900 Accounts Receivable 2900 (To record the correct entry) 3. Accounts Payable 360 Equipment 360 (To reverse the incorrect entry) Equipment 870 Accounts Payable 870 (To record the correct entry) El your answer is partially correct. Try again. 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 No. Credit 1. Salaries and Wages Expense 580 Equipment 580 2. Service Revenue 290 Cash 2610 Accounts Receivable 2900 3. x Equipment 520 520 Accounts Payable