Exercise 4-13

Exercise 4-13 Culver Company has an inexperienced accountant. During the first 2 weeks on the job, the accountant made the following errors in journalizing transactions. All entries were posted as made. 1. A payment on account of $940 to a creditor was debited to Accounts Payable $350 and credited to Cash $350. 2. The purchase of supplies on account for $100 was debited to Equipment $10 and credited to Accounts Payable $10. 3. A $500 cash dividend was debited to Salaries and Wages Expense $500 and credited to Cash $500. Prepare the correcting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. 2. 3