3. The following errors were made: a. GH¢87 cash paid for stationery was entered in the Stationery Account and the Cash Account as GH¢97. b. GH¢430 paid for repairs for machinery was debited to Machinery Account. c. Sales Account and Purchases Account were overcast by GH¢350 each. d. Commission received GH¢1,580 was wrongly debited to the Commission Revenue Account and credited to the Cash Account. What entries should be made to correct these errors?

Ryan has a suspense account with a debit balance of $740. Upon investigation, the following discrepancies were found: (i) Discounts unexpectedly taken by customers of $229 have only been entered in the receivables control account (ii) Cash sales of $820 has not been recorded to the sales account, the cash has been debited to cash at bank (iii)Bank interest received of $54 has been debited to the interest income account and credited to the cash account. What is the balance on the suspense account after the errors have been corrected? DR or CR?

Exercise 228 (Part Level Submission) The percentage of receivables approach to estimating bad debts expense is used by Oriole Company. On February 28 (the fiscal yearend), the firm had accounts receivable in the amount of $573,000 and Allowance for Doubtful Accounts had a credit balance of $1,850 before adjustment. Net credit sales for February amounted to $3,480,000. The credit manager estimated that uncollectible accounts would amount to 6% of accounts receivable. On March 10, an accounts receivable from Mark Dole for $2,100 was determined to be uncollectible and written off. However, on March 31, Dole received an inheritance and immediately paid his past due account in full. (a) Your answer is partially correct. Try again. Prepare the journal entries made by Oriole Company on the below dates: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) 1. February 28 2. March 10…

Noah and Olivia Anderson are a married couple in their early 20s living in Dallas. Noah Anderson earned $73,000 in 2018 from his job as a sales assistant. During the year, his employer withheld $4,975 for income tax purposes. In addition, the Andersons received interest of $350 on a joint savings account, $750 interest on tax-exempt municipal bonds, and dividends of $400 on common stocks. At the end of 2018, the Andersons sold two stocks, A and B. Stock A was sold for $700 and had been purchased four months earlier for $800. Stock B was sold for $1,500 and had been purchased three years earlier for $1,100. Their only child, Logan, age 2, received (as his sole source of income) dividends of $200 from Hershey stock. Although Noah is covered by his company’s pension plan, he plans to contribute $5,000 to a traditional deductible IRA for 2018. Here are the amounts of money paid out during the year by the Andersons: Medical and dental expenses (unreimbursed) $ 200State and local property…