On March 1, it was discovered that the following errors took place in journalizing and posting transactions: a. Rent expense of $3,220 paid for the current month was recorded as a debit to Misoellaneous Expense and a credit to Reht Expense. b. The payment of $5,080 from a customer on account was recorded as a debit to Cash and a credit to Accounts Payable.

On March 1, it was discovered that the following errors took place in journalizing and posting transactions: a. Rent expense of $3,220 paid for the current month was recorded as a debit to Misoellaneous Expense and a credit to Reht Expense. b. The payment of $5,080 from a customer on account was recorded as a debit to Cash and a credit to Accounts Payable.

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter5: Accounting Systems

Section: Chapter Questions

Problem 19E: After Bunker Hill Assay Services Inc. had completed all postings for March in the current year...

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