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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 25
Correcting entries
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.
Explanation
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Sometimes wrong accounting entries in th...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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