The following errors took place in journalizing and posting transactions: a. Rent expense of $4,650 paid for

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The following errors took place in journalizing and posting transactions:

a. Rent expense of $4,650 paid for the current month was recorded as a debit to Miscellaneous Expense and a credit to Rent Expense.

b. The payment of $3,700 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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Financial Accounting

ISBN: 978-1305088436

14th edition

Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac

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Question Posted: Dec 19, 2016 10:39 AM

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The following errors took place in journalizing and posting transactions: a. Rent expense of $4,650 paid for

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a Rent Expense 4650 Miscellaneous Expense 4650 Rent Expense 4650 Cash 4650 The first entry in a ...View the full answer

Financial Accounting

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