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Seema Agency purchased equipment for $8,000 on account during the month. The bookkeeper recorded the transaction by debiting accounts receivable and crediting service revenue by
Seema Agency purchased equipment for $8,000 on account during the month. The bookkeeper recorded the transaction by debiting accounts receivable and crediting service revenue by $8,000. If a correcting entry is needed, what would it be? Select one: a. Debit Service Revenue $8,000; credit Accounts Receivable $8,000; debit Equipment $8,000; credit Accounts Payable $8,000 b. Credit Accounts Receivable $8,000; debit Service Revenue $8,000 c. No correcting entry is needed d. Debit Equipment $8,000; credit Accounts Payable $8,000 O O
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