Question
I need help where the ??? are placed Swifty Company discovered the following errors made in January 2022. 1. A payment of Salaries and Wages
I need help where the ??? are placed
Swifty Company discovered the following errors made in January 2022.
1. | A payment of Salaries and Wages Expense of $500 was debited to Equipment and credited to Cash, both for $500. | |
2. | A collection of $1,500 from a client on account was debited to Cash $150 and credited to Service Revenue $150. | |
3. | The purchase of equipment on account for $920 was debited to Equipment $290 and credited to Accounts Payable $290. |
Correct the errors without reversing the incorrect entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
No. | Account Titles and Explanation | Debit | Credit |
---|---|---|---|
1. | Salaries and Wages Expense | 500 | enter a credit amount |
Equipment | enter a debit amount | 500 | |
2. | Service Revenue | 150 | enter a credit amount |
Cash | ??? | enter a credit amount | |
Accounts Receivable | enter a debit amount | 1500 | |
3. | Equipment | ??? | enter a credit amount |
Accounts Payable | enter a debit amount | ??? |
I need help where the ??? are placed
I would appreciate a timely response
Thank You
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