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Joshua Company discovered the following errors made in January 2014. A payment of Salaries and Wages Expense of $483 was debited to Equipment and credited
Joshua Company discovered the following errors made in January 2014. A payment of Salaries and Wages Expense of $483 was debited to Equipment and credited to Cash, both for $483. A collection of $5, 720 from a client on account was debited to Cash $390 and credited to Service Revenue $390. the purchase of equipment on account for $840 was debited to Equipment $480 and credited to Accounts Payable $480. Correct the errors by reversing the incorrect entry and preparing the correct entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Correct the errors without reversing the incorrect entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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