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ing entries. DO IT! 4.3 (LO 3) Hanson Company has an inexperienced accountant. During the first months on the job, the accountant made the following
ing entries. DO IT! 4.3 (LO 3) Hanson Company has an inexperienced accountant. During the first months on the job, the accountant made the following errors in journalizing transactions. All entries were posted as made. 1. The purchase of supplies for $650 cash was debited to Equipment $210 and credited to Cash $210. 2. A S500 dividend was debited to Salaries and Wages Expense S900 and credited to Cash $900. 3. A payment on account of $820 to a creditor was debited to Accounts Payable $280 and credited to Cash $280. Prepare the correcting entries. balance sheet DO IT! 4.4 (LO4) The following accounts were taken from the financial statements of Lee Company. Interest revenue Common stock Utilities payable Accumulated depreciation equipment Accounts payable Equipment Supplies Salaries and wages expense Bonds payable Debt investments (long-term) Goodwill Unearned rent revenue Match each of the accounts to its proper balance sheet classification, as shown below. If the item would not appear on a balance sheet, use "NA." Current assets (CA) Current liabilities (CL) Long-term investments (LT) Long-term liabilities (LTL) Property, plant, and equipment (PPE) Stockholders' equity (SE) Intangible assets (IA)
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