Pharoah Company has an inexperienced accountant. During the first 2 weeks on the job, the accountant...

 

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Pharoah Company has an inexperienced accountant. During the first 2 weeks on the job, the accountant made the following errors in journalizing transactions. All entries were posted as made. 1. A payment on account of $530 to a creditor was debited to Accounts Payable $350 and credited to Cash $350. Pharoah Company has an inexperienced accountant. During the first 2 weeks on the job, the accountant made the following errors in journalizing transactions. All entries were posted as made. 1. A payment on account of $530 to a creditor was debited to Accounts Payable $350 and credited to Cash $350.

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