Errors in the journalizing and posting transations

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Reference no: EM131257550

On March 1, it was discovered that the following errors in the journalizing and posting transations:

A. The receipt of $8,350 for services rendered was recorded as a debt to accounts receivable and a credit to fees earned the purchase of supplies of $3100 on account was recored as a debit office equipment and a credit to supplies. Journalize the entries on March 1 to correct the errors. Use two entries to correct the error described in (b). (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.

Reference no: EM131257550

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