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hh Question 5 of 5 (To record the correct entry) 2. (To reverse the...

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Accounting

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Question 5 of 5 (To record the correct entry) 2. (To reverse the incorrect entry) (To record the correct entry) 3. (To reverse the incorrect entry) B (To record the correct entry) David Davis Company discovered the following errors made in January 2027. 1. A payment of Salaries and Wages Expense of $700 was debited to Equipment and credited to Cash, both for $700. 2. A collection of $1,500 from a client on account was debited to Cash $150 and credited to Service Revenue $150. 3. The purchase of equipment on account for $710 was debited to Equipment $170 and credited to Accounts Payable $170. (a) Correct the errors by reversing the incorrect entry and preparing the correct entry. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)

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