Marigold 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. 2. 3. The purchase of supplies for $600 cash was debited to Equipment $190 and credited to Cash $190. A $460 dividend was debited to Salaries and Wages Expense $830 and credited to Cash $830. A payment on account of $510 to a creditor was debited to Accounts Payable $150 and credited to Cash $150. 4

Marigold 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 $600 cash was debited to Equipment $190 and credited to Cash $190. 2. A \$460 dividend was debited to Salaries and Wages Expense $830 and credited to Cash $830. 3. A payment on account of $510 to a creditor was debited to Accounts Payable $150 andcredited to Cash $150