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Show the journal entries needed to correct the errors

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Reference no: EM132823407

Question - On May 31, 2016 the following errors were discovered in the books of ABC Ltd.

i. Office Furniture bought for $6,000 has been debited to Motor Vehicles account.

ii. Goods $3,550 bought from Jane Whyte was credited to Joan White account.

iii. A credit sale made to G. Grisham for $1,150 was completely overlooked in posting.

iv. Goods sold $976 to Debbie Boot have been entered in error as $796 in all accounts.

v. Equipment bought for $2,500 by cheque was debited to general expenses account.

Required - Show the journal entries needed to correct the errors. (Include a narration).

Reference no: EM132823407

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