Question: Unless your instructor states otherwise, you may use either one or two journal entries, with explanations, to make the following corrections: 1. Suppose HEC paid

Unless your instructor states otherwise, you may use either one or two journal entries, with explanations, to make the following corrections:
1. Suppose HEC paid an account payable of $2,400 and erroneously debited Supplies. The error correction was recorded on June 5.
2. Suppose HEC made the following adjusting entry to record amortization:

3. Suppose, in closing the books to a profitable year, HEC made this closing entry:

May 31 4,000 Furniture 4,000 Aug. 31 Income Summary 59,200 Service Revenue 59,200

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