Question: The following errors took place in journalizing and posting transactions: Cash of $2,580 received on account was recorded as a debit to Fees Earned and

The following errors took place in journalizing and posting transactions:

Cash of $2,580 received on account was recorded as a debit to Fees Earned and a credit to Cash.

A $1,750 purchase of supplies for cash was recorded as a debit to Supplies Expense and a credit to Accounts Payable.

Journalize the entries to correct the errors. Note: Prepare the entry to reverse the original entry first. If an amount box does not require an entry, leave it blank.

Transaction	Account	Debit	Credit
a.



b.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Entries to Correct Errors The following errors took place in journalizing and posting transactions: a. Cash of $8,800 received on account was recorded as a debit to Fees Earned and a credit to Cash....

Need help! Book Calculator Show Me How Entries to correct errors Instructions Chart of Accounts Journal Instructions The following errors took place in journalizing and posting transactions: a. Cash...

The following errors took place in journalizing and posting transactions: a . Cash of $ 8 , 5 0 0 received on account was recorded as a debit to Fees Earned and a credit to Cash. b . A $ 1 , 7 8 0...

On July 2 4 , it was discovered that the following errors took place in journalizing and posting transactions: a . Cash of $ 8 , 8 0 0 received on account was recorded as a debit to Fees Earned and a...

The following errors took place in journalizing and posting transactions: a. Cash of $8,200 received on account was recorded as a debit to Fees Earned and a credit to Cash. b. A $1,540 purchase of...

Entries to correct errors The following errors took place in journalizing and posting transactions: a . Cash of $ 7 , 5 5 0 received on account was recorded as a debit to Fees Earned and a credit to...

MO HOW Calculator Pesource from Cengage Learning Printem Entries to Correct Errors The following errors took place in journalizing and posting transactions: a. Cash of $8,800 received on account was...

inprogress false * eBook Entries to Correct Errors Show Me How The following errors took place in journalizing and posting transactions: a. Cash of $4,020 received on account was recorded as a debit...

Instructions The following errors took place in journalizing and posting transactions: a . Cash of $ 8 , 1 0 0 received on account was recorded as a debit to Fees Earned and a credit to Cash. b . A $...

Fast Company produces its product through two processing departments: Cutting and Assembly. Information for the Cutting department follows. Beginning work in process inventory. Units started this...

Vanessa Avoletta is a very successful self-employed freelance writer of romantic novels. She has a reputation for writing rapidly and is able to complete at least four books a year, which net after...

For the past year, Nexco Company reported sales of $ 5 2 , 3 0 0 , interest expense of $ 2 , 8 0 0 , cost of goods sold of $ 1 7 , 6 5 0 , selling and administrative expense of $ 1 2 , 4 5 0 , and...

Projects A and B are mutually exclusive and both have an initial cost of $88,000. Project A has annual cash flows for three years of $18,300, $34,500, and $52,300, respectively. Project B has annual...

1. Identify and control your anxieties

4. Pay attention to how you meet people and the general first impression you receive from them. Ask yourself what makes you feel the way you do about the person. Does the person make you feel...

2. Choose a delivery style best suited to you and your speaking situation