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online - Principles of Accounting Prepare the necessary correcting entry for each of the following. ...A payment on account of $470 to a creditor was

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online - Principles of Accounting Prepare the necessary correcting entry for each of the following. ...A payment on account of $470 to a creditor was debited to Accounts Payable $740 and credited to Cash $740 b... The purchase of supplies on account for $250 was recorded as a debit to Equipment $250 and a credit to Accounts Payable $250. Paragraph BIE

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