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(a) A purchase of supplies for $213 on account was recorded and posted as a debit to Supplies for $592 and as a credit t
Posted: Sun Jun 05, 2022 9:08 pm
by answerhappygod
- A A Purchase Of Supplies For 213 On Account Was Recorded And Posted As A Debit To Supplies For 592 And As A Credit T 1 (17.1 KiB) Viewed 57 times
(a) A purchase of supplies for $213 on account was recorded and posted as a debit to Supplies for $592 and as a credit to Accounts Receivable for $592. (b) A receipt of $4,140 from Fees Earned was recorded and posted as a debit to Fees Earned for $4,140 and a credit to Cash for $4,140 Required: Journalize the entries to correct the above errors. Use two entries to correct the error described in (a). (That is, record an entry to reverse the incorrect entry and a second entry to record the correct entry.) Refer to the Chart of Accounts for exact wording of account titles.