Solution-Prepare the correcting entries

Prepare the correcting entries

Reference no: EM132898803

Problem - At Grouper Company, the following errors were discovered after the transactions had been journalized and posted.

1. A collection on account from a customer for $900 was recorded as a debit to Cash $900 and a credit to Service Revenue $900.

2. The purchase of store supplies on account for $1,570 was recorded as a debit to Supplies $1,750 and a credit to Accounts Payable $1,750.

Required - Prepare the correcting entries.

Reference no: EM132898803

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Prepare the correcting entries

Reference no: EM132898803

Reference no: EM132898803

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