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The following journal entries were prepared and posted by an employee of International Marketing Company who does not have an adequate knowledge of accounting. GENERAL
The following journal entries were prepared and posted by an employee of International Marketing Company who does not have an adequate knowledge of accounting. GENERAL JOURNAL PAGE 3 Post. Ref. Debit Credit Date Description 2019 April 1 Accounts Payable Fees Income Performed services on credit 15,800 15,800 600 2 Cash Telephone Expense Paid for March telephone service, Check 1917 600 8,200 900 3 Office Equipment Office Supplies Cash Purchased file cabinet and office supplies, Check 1918 9,500 (Assume that Office Equipment and Office Supplies were recorded at the correct values.) Required: Examine the above journal entries carefully and prepare the correcting journal entries. Analyze: After the correct journal entries have been posted, what effect do the corrections have on the company's reported assets? Complete this question by entering your answers in the tabs below. General Journal Analyze Examine the above journal entries carefully and prepare the correcting journal entries. View transaction list Journal entry worksheet Preformed services on credit. Note: Enter debits before credits. . Date General Journal Debit Credit Apr 01, 2019 Record entry Clear entry View generallournal Complete this question by entering your answers in the tabs below. General Journal Analyze After the correcting journal entries have been posted, what effect do the corrections have on the company's reported assets? Assets by
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