Question

SD LOANER 179 Bookmarks People Tab Window Help 99% Sun 10:57 P Yankees X Cengage Cengage x Cengage x мумсах мумсах M 20/FA-AC X M Topic: X My Home X Assignment/takeAssignment Main.do?invoker=&takeAssignmentSessionLocator-&inprogress=false eBook * Show Me How Calculator Print Item Entries to correct Errors The following errors took place in joumalizing and posting transactions: a. Cash of $4,000 received on account was recorded as a debit to Fees Earned and a credit to Cash b. A $1,570 purchase of supplies for cash was recorded as a debit to Supplies Expense and a credit to Accounts Payable. Note: Prepare the entry to reverse the origina entry first Journalize the entries to correct the errors. If an amount box does not require an entry, Itave it blank. a. Accounts Payable x Fees Earned Fees Payable x b. Accounts Receivable x II II III Supplies Expense Supplies Supplies Expensex

Answer 1

particulars	debit	credit
1) cash a/c Dr.	8000
To fees earned a/c		8000
(being fees earned wrongly debited and cash wrongly crediited now error corrected)
2) purchase a/c Dr.	1570
accounts payable a/c Dr.	1570
To supplies expenses a/c		1570
To cash a/c		1570
(being entry correctly entered and error corrected)