Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Forte Company's bookkeeper received and paid the monthly utility bill of $650 and the monthly telephone bill of $250 when due. The following entry was
Forte Company's bookkeeper received and paid the monthly utility bill of $650 and the monthly telephone bill of $250 when due. The following entry was made DR Cash $900, CR Telephone expense $250 CR Utility expense $650. What correcting entry should be made? . Debit Credit Telephone expense 500 Utility expense 650 Cash 1,150 OB Debit Credit Cash 1.800 Telephone expense 250 Utility expense 650 Retained caminos 900 Od Debit Credit Telephone expense 250 Utility expenso 650 Cash 900 00 Debit Credit Telephone expense 500 Utility expense 1,300 Cash 1,800
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started