Pina Colada Cocripamy discovered the following errors made in January 2022 1. A payment of...

90.2K

Verified Solution

Question

Accounting

image
image
Pina Colada Cocripamy discovered the following errors made in January 2022 1. A payment of Salaries and Wages Expense of $400 was debited to Equipment and credited to Cash, both for $400. 2. A collection of $7,500 from a dient on account was debited to Cash $750 and credited to Service Remenue $750. 3. The purchase of equipment on account for $830 was debited to Equipment $380 and credited to Accounts Payable $380. (a) Cor rect the efrors by reversing the incorrect entry and preparing the correct entry. (C)endit dcoount tities are autamotically indented when amount is entered. Do not indent manually. If no entry ls nequired, select 'No Entry' for the occount fieles and enter ofor the amounts. 2. (To reverse the incorrect entry) (To record the correct entry) 3. (To reverse the incorrect entry) (To record the correct entry) eTextbook and Media List of Accounts: Soncloo Lates Attempts:0 of 3 used

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students