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Make a correcting entry on December

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Question - Alexander Company has employed a bookkeeper who is inexperienced. On December 27, after reviewing the records for the year, you discover the following error.

On May 1, Alexander Company purchased Supplies on account, $180. The bookkeeper recorded this by debiting Supplies Expense for $810 and crediting Cash for $810.

Note: Assume that it is the company's policy to record the purchase of supplies in the Supplies account.

Required - Make a correcting entry on December 27. Make sure to enter the day for each separate transaction.

Reference no: EM132499027

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