Question: Brief Exercise 4-28 (Algorithmic) Adjusting Entry from Bank Reconciliation Eagel, a furniture company, made an error in recording a cheque received from a customer. Last

Brief Exercise 4-28 (Algorithmic) Adjusting Entry from Bank Reconciliation

Eagel, a furniture company, made an error in recording a cheque received from a customer. Last month, Eagel's customer bought a table for $970. Upon receiving the cheque from the customer, Engel entered the cheque as an increase of cash of $1,480.

Required:

Record the appropriate journal entry to correct the error.

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