Suppose a company purchased $1,200 of Supplies with cash but in error debited Equipment for $1,200....

 

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Suppose a company purchased $1,200 of Supplies with cash but in error debited Equipment for $1,200. What is the entry required to reverse the original entry and then create the correct journal entry on November 7? Suppose a company purchased $1,200 of Supplies with cash but in error debited Equipment for $1,200. What is the entry required to reverse the original entry and then create the correct journal entry on November 7?

Answer rating: 100% (QA)

To correct the error made in recording the purchase of supplies we need to reverse the original entr... View the full answer