Essay
Prepare the necessary correcting entry for each of the following.
a. A collection on account of $370 from a customer was credited to Accounts Receivable $730 and debited to Cash $730.
b. The purchase of supplies on account for $250 was recorded as a debit to Equipment $250 and a credit to Accounts Payable $250.
Correct Answer:
Verified
Correct Answer:
Verified
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