An inexperienced accountant for Gulliver Company made the following errors

An inexperienced accountant for Gulliver Company made the following errors in recording merchandising transactions.
1. A $175 refund to a customer for faulty merchandise was debited to Sales Revenue $175 and credited to Cash $175.
2. A $150 credit purchase of supplies was debited to Inventory $150 and credited to Cash $150.
3. A $215 sales discount was debited to Sales Revenue.
4. A cash payment of $20 for freight on merchandise purchases was debited to Freight-Out $200 and credited to Cash $200.

Instructions
Prepare separate correcting entries for each error, assuming that the incorrect entry is not reversed. (Omit explanations.)

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  • CreatedDecember 29, 2012
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