Question
The following errors took place in journalizing and posting transactions: a ) A withdrawal of $5,000 by Saleem, owner of the business, was recorded as
The following errors took place in journalizing and posting transactions:
a ) A withdrawal of $5,000 by Saleem, owner of the business, was recorded as a debit to Office Expense and a credit to Cash.
b) An accounts receivable payment for $7,800 was recorded as a debit to Cash and a credit to Fees Earned.
Journalize the entries to correct the errors.
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Principles Of Cost Accounting
Authors: Edward J. Vanderbeck
12th Edition
0324100949, 978-0324100945
