what should the entry have been also write the correcting entry 1. elko inc collected $830 of fees in advance the company erroneously debited cash for $380 and credited accounts receivable for $380 2. a payment on account of $500 was debited to accounts payable $550 and credited to cash $550 3. the collection of accounts receivable of $660 was recorded as a debit to cash $660 and a credit to service revenue $660 4. a payment of $5000 for salaries was recorded as debit to supplies expense and a credit cash