Prepare the correct journal entry.

A$.$ The tax credit note received from the account payable Vi for $$40\mathrm{.}26($$$36\mathrm{.}60+$ $$3\mathrm{.}66$ GST$)$ relating to an overcharge for inventory was incorrectly processed as a credit note to the account receivable Bias $$26\mathrm{.}40($$$24\mathrm{.}00+$ $$2\mathrm{.}40$ GST$).$ You are required to prepare the correction journal entry, and reversal and correcting general

journals.

B$.$ Payment to account payable Vice arrived at the office too late to be allowed any discount. The payment of $$870\mathrm{.}30$ was for processed tax invoices totalling $$900\mathrm{.}00.$