Current Attempt in Progress Monty Company discovered the following errors made in January 2022. 1. A payment of Salaries and Wages Expense of $400 was debited to Equipment and credited to Cash, both for $400. 2. A collection of $4,500 from a client on account was debited to Cash $450 and credited to Service Revenue $450. 3. The purchase of equipment on account for $840 was debited to Equipment $480 and credited to Accounts Payable $480. (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 manually.) No. Account Titles and Explanation Debit Credit 1. (To reverse the incorrect entry)