Question: Instructions The following errors took place in journalizing and posting transactions: a . Cash of $ 8 , 1 0 0 received on account was
Instructions
The following errors took place in journalizing and posting transactions:
a Cash of $ received on account was recorded as a debit to Fees Earned and a credit to Cash.
b A $ purchase of supplies for cash was recorded as a debit to Supplies Expense and a credit to Accounts Payable.
Journalize the entries on December to correct the errors. Note: Prepare the entry to reverse the original
entry first.
Journalize the entries on December to correct the errors. Note: Prepare the entry to reverse the original entry first.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
