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Wildhorse Inc. mistakenly recorded a cheque as $459 that was written for $549 in payment of a payable owing to one of the company's suppliers.

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Wildhorse Inc. mistakenly recorded a cheque as $459 that was written for $549 in payment of a payable owing to one of the company's suppliers. In addition, the company noticed the bank had mistakenly deducted a cheque for $475 from its bank account that was written by another company. (b) Identify any entries required on Wildhorse's books to correct these errors. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit Accounts Payable 90 Cash 90 (To correct error by company) IT O (To correct error by bank)

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