Waterway Company paid $720 on account to a creditor. The transaction was erroneously recorded as a debit to Cash of $270 and a credit to Accounts Receivable, $270. The correcting entry is 270 Accounts Receivable Cash 270 270 Accounts Receivable Accounts Payable 270 Accounts Receivable Accounts Payable 270 720 Cash 990 720 O Accounts Payable Cash 720