The following errors took place in journalizing and posting transactions: a. Utilities expense of $7,300 paid for

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The following errors took place in journalizing and posting transactions:

a. Utilities expense of $7,300 paid for the current month was recorded as a debit to Miscellaneous Expense and a credit to Utilities Expense.

b. The payment of $6,100 from a customer on account was recorded as a debit to Cash and a credit to Accounts Payable.

Journalize the entries to correct the errors. Omit explanations.

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Corporate Financial Accounting

ISBN: 978-1133952411

12th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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Question Posted: Feb 28, 2014 06:47 AM

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The following errors took place in journalizing and posting transactions: a. Utilities expense of $7,300 paid for

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a Utilities Expense 7300 Miscellaneous Expense 7300 Utilities Expense 7300 Cash 7300 The first ent...View the full answer

Corporate Financial Accounting

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