Oriole Company has an inexperienced accountant. During the first month on the job, the accountant made the following errors in journalizing transactions. All entries were posted as made.
1. The purchase of supplies for $760 cash was debited to Equipment $200 and credited to Cash $200.
2. A $530 dividend was debited to Salaries and Wages Expense $800 and credited to Cash $800.
3. A payment on account of $700 to a creditor was debited to Accounts Payable $230 and credited to Cash $230.
Prepare the correcting entries.
Answers: 2
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Oriole Company has an inexperienced accountant. During the first month on the job, the accountant ma...
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