Question

Assuming that all entries have been posted, prepare correcting entries for each of the following errors.
1. The following entry was made to record the purchase of $400 in equipment on account:
Supplies 142 400
Cash 101 400
2. The following entry was made to record the payment of $200 for advertising:
Repair Expense 537 200
Cash 101 200
3. The following entry was made to record a $600 payment to a supplier on account:
Prepaid Insurance 145 400
Cash 101 400



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  • CreatedDecember 20, 2011
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