Ultra 8:57 PM Homework-corre Exercises- correcting entries You, CPA, have been asked by client Jeff Pine to review his accounting records and prepare the inancial statements for his business. You have reviewed the records and found that the bookkeeper has made multiple ermors. Prepare the correcting entry for each of the following emors 1. The company received a $940 check from a customer for the balance due. The transaction was recorded as a debit to Cash $490 and a credt to Service Revenue $490 2. The company paid $530 on account to a creditor. The transaction was eroneously recorded as a debit to Cash of $350 and a credit to Accounts Receivable, $3S0 3. A payment on account of $500 was debited to Accounts Payable $550 and credited to Cash $550 4. A purchase of supplies on account for $1,000 was recorded as a debit to Equipment and a credit to Accounts Payable. 5. When making the entry to record the year's depreciation expense, the bookkeeper debiled ocumulated Depreciation for $1,000 and credited Cash for $1,000. 6. When accruing interest on a note payable, the bookkeeper debited Interest Recelvable for $200 and credited Interest Payable for $200 7. A bill for $840 for Office Supplies purchased on account was debited to Office Equipment, $84 and credited to Accounts Payable $84 8. The company collected $830 of fees in advance. The transaction was recorded as a debit to Unearned Revenue for $830 and a credit to Cash for $830 Open With Print