Business, 25.01.2020 05:31 demarley3093
On march 1, it was discovered that the following errors took place in journalizing and posting transactions:
a. rent expense of $4,650 paid for the current month was recorded as a debit to miscellaneous expense and a credit to rent expense.
b. the payment of $3,700 from a customer on account was recorded as a debit to cash and a credit to accounts payable.
journalize the entries on march 1 to correct the errors. use two entries to correct the error described in (a). (that is, record an entry to reverse the incorrect entry and a second entry to record the correct entry.) refer to the chart of accounts for exact wording of account titles.
Answers: 1
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On march 1, it was discovered that the following errors took place in journalizing and posting trans...
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