HBO Properties discovered the following errors made in January 2020. Prepare the necessary correcting entry...
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Accounting
HBO Properties discovered the following errors made in January 2020. Prepare the necessary correcting entry for each of the following.
a) A collection on account of 570 from a customer was credited to Accounts Receivable 750 and debited to Cash 750.
b) The purchase of supplies on account for 250 was recorded as a debit to Equipment 250 and a credit to Accounts Payable 250.
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You can see the logs in the Dashboard.