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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 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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