The following errors took place in journalizing and posting transactions:a. The receipt of $8,400 for services rendered was recorded as a debit to Accounts Receivable and a credit to Fees Earned.b. The purchase of supplies of $2,500 on account was recorded as a debit to Office Equipment and a credit to Supplies.Journalize the entries to correct the errors. Omit explanations.
The following errors took place in journalizing and posting transactions:a. The receipt of $8,400 for services rendered was recorded as a debit to Accounts Receivable and a credit to Fees Earned.b. The purchase of supplies of $2,500 on account was recorded as a debit to Office Equipment and a credit to Supplies.Journalize the entries to correct the errors. Omit explanations.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements
Section: Chapter Questions
Problem 8E: Would the following errors cause the trial balance to have equal or unequal totals? As a result of...
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| The following errors took place in journalizing and posting transactions: a. The receipt of $8,400 for services rendered was recorded as a debit to Accounts Receivable and a credit to Fees Earned. b. The purchase of supplies of $2,500 on account was recorded as a debit to Office Equipment and a credit to Supplies. Journalize the entries to correct the errors. Omit explanations. |
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