Problem

After all journal entries have been posted, Levi Hancock finds that errors have been mad...

After all journal entries have been posted, Levi Hancock finds that errors have been made in recording

some company transactions. Help Levi prepare correcting journal entries for each of the following errors.

1. The following journal entry was made to record the purchase of supplies for $700 cash.

2. The following journal entry was made to record the cash payment of $1,850 for prepaid rent.

3. The following journal entry was made to record the cash receipt of $2,000 for consulting services.

4. The following journal entry was made to record the cash payment of $1,375 for utilities expense.

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Solutions For Problems in Chapter 4