Question

The following errors took place in journalizing and posting transactions:
a. A $550 purchase of supplies on account was recorded as a debit to Miscellaneous Expense and a credit to Prepaid Rent.
b. Cash of $3,750 received on account was recorded as a debit to Accounts Payable and a credit to Cash.
Journalize the entries to correct the errors. Omit explanations.



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  • CreatedNovember 03, 2012
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