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Prepare the necessary correcting entry for each of the following. (Credit account titles are automatically indented when the amount is entered. Do not indent manually)

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Prepare the necessary correcting entry for each of the following. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) a. A payment of $5,000 for salaries was recorded as a debit to Supplies Expense and a credit to Cash. b. A purchase of supplies on account for $1,000 was recorded as a debit to Equipment and a credit to Accounts Payable

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