The Choi Company has an inexperienced accountant. During the first 2 weeks on the job, the following errors were made in journalizing transactions. All entries were posted as made.

1. A payment on account to a creditor of \(\$ 530\) was debited to Accounts Payable \(\$ 350\) and credited to Cash \(\$ 350\).

2. The purchase of supplies on account for \(\$ 500\) was debited to Equipment \(\$ 50\) and credited to Accounts Payable \(\$ 50\).

3. A \(\$ 400\) cash dividend was debited to Salaries Expense \(\$ 400\) and credited to Cash \(\$ 400\).

\section*{Instructions}

Prepare the correcting entries.