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Hello! I need help filling in this chart from the following prompt. Thank you. Crane Company discovered the following errors made in January 2022. 1.
Hello! I need help filling in this chart from the following prompt. Thank you.
Crane Company discovered the following errors made in January 2022. 1. A payment of Salaries and Wages Expense of $360 was debited to Equipment and credited to Cash, both for $360. 2. A collection of $5,200 from a client on account was debited to Cash $520 and credited to Service Revenue $520. 3. The purchase of equipment on account for $350 was debited to Equipment $530 and credited to Accounts Payable $530. No. Account Titles and Explanation Debit Credit 1. (To reverse the incorrect entry) (To record the correct entry) 2. (To reverse the incorrect entry) (To record the correct entry) 3. (To reverse the incorrect entry) (To record the correct entry)Step by Step Solution
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