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 7E: The following errors were made in journalizing transactions. In each case, calculate the amount of...

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