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Prepare the necessary correcting entry for each of the following A payment on account of $840 was debited to Accounts Payable $480 and credited to

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Prepare the necessary correcting entry for each of the following A payment on account of $840 was debited to Accounts Payable $480 and credited to Cash b. The collection of Accounts Receivable of $680 was recorded as a debit to Cash $680 and a credit to Service Revenue $680. $480

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