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Blossom Company has an inexperienced accountant. During the first two weeks on the job, the accountant made the following err
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SOLUTION

S.No. Accounts titles and Explanation Debit ($) Credit ($)
1. Accounts payable 110
Cash (690-580) 110
(To record correcting entry for payment)
2. Supplies 630
Accounts payable 630
(To record purchase of supplies)
3. L. Blossom's Drawings 410
Salaries expense 410
(Correcting entry for drawings)
4. Service revenue 700
Accounts receivables 700
(Correcting entry for collection from customer)
5. Unearned revenue 350
Service revenue 350
(Correcting entry for service revenue)
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