Question: The following errors took place in journalizing and posting transactions! a. Dividends of $5,000 were recorded as a debit to Office Expense and a credit
The following errors took place in journalizing and posting transactions! a. Dividends of $5,000 were recorded as a debit to Office Expense and a credit to Cash b. Accounts receivable payment for $7.800 was recorded as a debit to Cash and a credit to Fees Earned. Required: Journalize the entries to correct the errors. Refer to the Chart of Accounts for exact wording of account titles
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
