Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

what should the entry have been also write the correcting entry 1. elko inc collected $830 of fees in advance the company erroneously debited cash

what should the entry have been also write the correcting entry 1. elko inc collected $830 of fees in advance the company erroneously debited cash for $380 and credited accounts receivable for $380 2. a payment on account of $500 was debited to accounts payable $550 and credited to cash $550 3. the collection of accounts receivable of $660 was recorded as a debit to cash $660 and a credit to service revenue $660 4. a payment of $5000 for salaries was recorded as debit to supplies expense and a credit cash

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions