Question: Correct the errors without reversing the incorrect entry. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually) Account Titles and



Correct the errors without reversing the incorrect entry. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually) Account Titles and Explanation Debit No. Credit 1. 2. Correct the errors by reversing the incorrect er.try and preparing the correct entry. (Credit account titles are automatically Indented when amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit 1. Cash 300 Equipment 300 (To reverse the incorrect entry) Salaries and Wages Expense 300 Cash INO . 300 (To record the correct entry) 2. Service Revenue 150 Cash 350 (To reverse the incorrect entry) Cash 1500 Accounts Receivable 1500 3. Accounts Payable 480 Equipment 480 (To reverse the incorrect entry) NO Equipment 840 Accounts Payable 840 (To record the correct entry) Flint Company discovered the following errors made in January 2022. 1. 2 A payment of Salaries and Wages Expense of $300 was debited to Equipment and credited to Cash, both for $300. A collection of $1,500 from a client on account was debited to Cash $150 and credited to Service Revenue $150. The purchase of equipment on account for $840 was debited to Equipment $480 and credited to Accounts Payable $480. 3
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