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The following errors took place in journalizing and posting transactions: Cash of $2,580 received on account was recorded as a debit to Fees Earned and
The following errors took place in journalizing and posting transactions:
Cash of $2,580 received on account was recorded as a debit to Fees Earned and a credit to Cash.
A $1,750 purchase of supplies for cash was recorded as a debit to Supplies Expense and a credit to Accounts Payable.
Journalize the entries to correct the errors. Note: Prepare the entry to reverse the original entry first. If an amount box does not require an entry, leave it blank.
Transaction | Account | Debit | Credit |
---|---|---|---|
a. | |||
b. | |||
|
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