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You are the accountant for XYZ Company. For the following situations, record the correcting journal entry. If no entry is needed, write 'no entry'. a.

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You are the accountant for XYZ Company. For the following situations, record the correcting journal entry. If no entry is needed, write 'no entry'. a. The bookkeeper was recording $10,000 revenue earned which had been paid in advance. He debited service revenue and credited unearned revenue. b. The bookkeeper was recording a payment received on account for $450. He recorded the payment as $540. C. The bookkeeper was recording an accrual for interest that was owed to XYZ Company from ABC Co. for $500. He debited interest expense and credited interest payable

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