The following errors took place in journalizing and posting the transactions below. Journalize the entries to correct the errors. Omit explanations. If an amount box does not require an entry, leave it blank.a. The receipt of $3,770 for services rendered was recorded as a debit to Accounts Receivable and a credit to Fees Earned. Cash fill in the blank e51d80faffd4fcb_2fill in the blank e51d80faffd4fcb_3 Accounts Receivable fill in the blank e51d80faffd4fcb_5fill in the blank e51d80faffd4fcb_6b. The purchase of supplies of $1,130 on account was recorded as a debit to Office Equipment and a credit to Supplies. Note: Prepare the entry to reverse the original entry first. fill in the blank 1fd73cf5b00afb5_2fill in the blank 1fd73cf5b00afb5_3 fill in the blank 1fd73cf5b00afb5_5fill in the blank 1fd73cf5b00afb5_6 Supplies fill in the blank 1fd73cf5b00afb5_8fill in the blank 1fd73cf5b00afb5_9 Accounts Payable fill in the blank 1fd73cf5b00afb5_11fill in the blank 1fd73cf5b00afb5_12

Rectification entry means where some error has been done in past and we need to rectify that errors.…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following errors took place in journalizing and posting the transactions below. Journalize the entries to correct the errors. Omit explanations. If an amount box does not require an entry, leave it blank.

a. The receipt of $3,770 for services rendered was recorded as a debit to Accounts Receivable and a credit to Fees Earned.

	Cash	fill in the blank e51d80faffd4fcb_2	fill in the blank e51d80faffd4fcb_3
	Accounts Receivable	fill in the blank e51d80faffd4fcb_5	fill in the blank e51d80faffd4fcb_6

b. The purchase of supplies of $1,130 on account was recorded as a debit to Office Equipment and a credit to Supplies. Note: Prepare the entry to reverse the original entry first.

	fill in the blank 1fd73cf5b00afb5_2	fill in the blank 1fd73cf5b00afb5_3
	fill in the blank 1fd73cf5b00afb5_5	fill in the blank 1fd73cf5b00afb5_6
Supplies	fill in the blank 1fd73cf5b00afb5_8	fill in the blank 1fd73cf5b00afb5_9
Accounts Payable	fill in the blank 1fd73cf5b00afb5_11	fill in the blank 1fd73cf5b00afb5_12

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