The following errors took place in journalizing and posting transactions:a. Rent expense of $4,650 paid for the current month was recorded as a debit to Miscellaneous Expense and a credit to Rent Expense.b. The payment of $3,700 from a customer on account was recorded as a debit to Cash and a credit to Accounts Payable.Journalize the entries to correct the errors. Omit explanations.
The following errors took place in journalizing and posting transactions:a. Rent expense of $4,650 paid for the current month was recorded as a debit to Miscellaneous Expense and a credit to Rent Expense.b. The payment of $3,700 from a customer on account was recorded as a debit to Cash and a credit to Accounts Payable.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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| The following errors took place in journalizing and posting transactions: a. Rent expense of $4,650 paid for the current month was recorded as a debit to Miscellaneous Expense and a credit to Rent Expense. b. The payment of $3,700 from a customer on account was recorded as a debit to Cash and a credit to Accounts Payable. Journalize the entries to correct the errors. Omit explanations. |
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