3 Do & c.no Below are several transactions for Crimson Tide Corporation A junior Accountant, recently employed by the co

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3 Do C No Below Are Several Transactions For Crimson Tide Corporation A Junior Accountant Recently Employed By The Co 1 (43.71 KiB) Viewed 43 times

3 Do & c.no Below are several transactions for Crimson Tide Corporation A junior Accountant, recently employed by the company proposes to record the following transactions External Transion NA 1. Pay cash dividends of $710 to stockholders. Caan 710 Dividende 310 2. Provide services on secount for cust... $2,500. Cash 2,500 Service Reven 3. Pay & $410 utilities bill for the current period. 2.500 utilities Expense 410 Cash 410 4. Receive cash of 10 from previously billed customers Cash 310 Service Save 5. Tuy for supplies previously purchased on account. 01.110. Pupplies Expo CASH Required: 1. Assess whether the proposed entries are correct or incorrect 2. Provide a correct entry for each of the transactions classified as incorrect, 310 Complete this question by entering your answers in the tabs below. Required 1 Recured 2 Provide a correct entry for each of the transactions classified as incorrect. (If no entry is required to correct a transaction/event, seled "No Journal Entry Required in the first account Red.) View transaction Journal entry worksheet Pay cash dividends of $710 to stockholders Note ar dabits before credits Transaction 1 General Journal Dahit