The following errors took place in journalizing and posting transactions: a. Cash of $7,550 received on account
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The following errors took place in journalizing and posting transactions:
a. Cash of $7,550 received on account was recorded as a debit to Fees Earned and a credit to Cash.
b. A $1,350 purchase of supplies for cash was recorded as a debit to Supplies Expense and a credit to Accounts Payable.
Journalize the entries to correct the errors. Omit explanations.
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