Alexander Company has employed a bookkeeper who is inexperienced. On December 27, after reviewing the records for
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Question:
Alexander Company has employed a bookkeeper who is inexperienced. On December 27, after reviewing the records for the year, you discover the following error.
On May 1, Alexander Company purchased Supplies on account, $180. The bookkeeper recorded this by debiting Supplies Expense for $810 and crediting Cash for $810.
Note: Assume that it is the company's policy to record the purchase of supplies in the Supplies account.
Required:
Make a correcting entry on December 27. Make sure to enter the day for each separate transaction.
Related Book For
Statistics For Psychology
ISBN: 9780205258154
6th Edition
Authors: Arthur Aron, Elaine N. Aron, Elliot J. Coups
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