Homework Answers
DR
Supplies 1,400
.......CR
...........Supplies expense 1,400
working;
On March 12 th, they have passed a wrong journal entry;
The correct entry would be to debit supplies with $2,000 and credit cash with $2,000.
In order to correct the above error without altering the original entry, we need to now debit supplies with the amount of supplies in hand =>$1,400.
Credit will be given to supplies expense with $1400.
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