Question: Journalize the entries to correct the following errors: (a) A purchase of supplies for $500 on account was recorded and posted as a debit to

Journalize the entries to correct the following errors:

(a)

A purchase of supplies for $500 on account was recorded and posted as a debit to Supplies for $200 and as a credit to Accounts Receivable for $200.

(b)

A receipt of $2,500 from Fees Earned was recorded and posted as a debit to Fees Earned for $2,500 and a credit to Cash for $2,500.

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