Question: The following errors took place in journalizing and posting transactions: a. Cash of $3,750 received on account was recorded as a debit to Fees Earned

The following errors took place in journalizing and posting transactions:
a. Cash of $3,750 received on account was recorded as a debit to Fees Earned and a credit to Cash.
b. A $1,500 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. Omit explanations.

Step by Step Solution

3.30 Rating (159 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a b Cash 75... View full answer

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

Document Format (1 attachment)

Word file Icon

46-B-C-A-T-A (44).docx

120 KBs Word File

Students Have Also Explored These Related Cost Accounting Questions!