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Correcting entries Instructions Instructions Chart of Accounts 'Journal On March 1 , it was discovered that the following errors took place in iournalizing and posting transactions: a. The receipt of $8,400 for services rendered was recorded as a debit to Accounts Receivable and a credit to Fees Earned. b. The purchase of supplies of S2,S00 on account was recorded as a debit to Office Equipment and a credit to Supplies Journalize the entries on March 1 to correct the errors Use two entries to correct the error described in (b). (That is, record an entry to reverse the incorrect entry and a second entry to record the correct entry.) Refer to the Chart of Accounts for exact wording of account titles DEBIT 2,500.00 2,500.00 CREDIT 2,500.00 2,500.00 2,500.00 LIABILITIES Mar. 1 Mar. 1 Mar. 1 Feedback Check My Work DESCRIPTION Supplies Office Equipment Supplies Cash Supplies EQUITY Previous Next