Correct the errors by reversing the incorrect entry and preparing the correct entry.

Question 2 View Policies Current Attempt in Progress Wildhorse Company discovered the following errors made in January 2020. 1. Apayment of Salaries and Wages Expense of $300 was debited to Equipment and credited to Cash, both for $300. 2. A collection of $5,400 from a client on account was debited to Cash $540 and credited to Service Revenue $540. 3. The purchase of equipment on account for $400 was debited to Equipment $650 and credited to Accounts Payable $650. Correct the errors by reversing the incorrect entry and preparing the correct entry. (Credit account titles are automatically indented when amount is No. Account Titles and Explanation Debit Credit o em a $ OORWXW9 a Correct the errors by reversing the incorrect entry and preparing the correct entry. (Credit account titles are automatically indented when amount is entered. Do not Indent m No. Account Titles and Explanation Debit Credit (To reverse the incorrect entry) (To record the correct entry) (To reverse the incorrect entry) (To record the correct entry)