Waterway Company received a $590 cheque from a customer for the balance due on an...
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Accounting
Waterway Company received a $590 cheque from a customer for the balance due on an accounts receivable. The transaction was erroneously recorded as a debit to Cash of $950 and a credit to Service Revenue of $950. The correcting entry is O debit Accounts Receivable $590: credit Cash $590 O debit Accounts Receivable $360;credit Cash $360 debit Service Revenue $950, credit Cash $590; credit Accounts Receivable $360 debit Service Revenue $950, credit Cash $360; credit Accounts Receivable $590
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