On March 8, Fernetti Company bought office supplies on account from the Flint Company for $880.Fernetti Company incorrectly debited Office Equipment for $800 and credited Accounts Payable for $800.The entries have been posted to the ledger.the correcting entry should be:

Question

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The correcting entry should debit Office Supplies for $880 to record the correct purchase, credit Office Equipment for $800 to reverse the incorrect debit, and credit Accounts Payable for $80 to correct the total credit to $880.

On March 8, Fernetti Company Bought Office Supplies on Account Office Supplies880 Accounts Payable880\begin{array} { l } \text { Office Supplies}&880 \\ \text { Accounts Payable}&&880 \\\end{array} Office Supplies Accounts Payable​880​880​

On March 8, Fernetti Company Bought Office Supplies on Account $\begin{array} { l } \text { Office Supplies}&880 \\ \text { Accounts Payable}&&880 \\\end{array}$