The following errors took place in journalizing and posting transactions:a. Rent expense of $4,650 paid for the current month was recorded as a debit to Miscellaneous Expense and a credit to Rent Expense.b. The payment of $3,700 from a customer on account was recorded as a debit to Cash and a credit to Accounts Payable.Journalize the entries to correct the errors. Omit explanations.
The following errors took place in journalizing and posting transactions:a. Rent expense of $4,650 paid for the current month was recorded as a debit to Miscellaneous Expense and a credit to Rent Expense.b. The payment of $3,700 from a customer on account was recorded as a debit to Cash and a credit to Accounts Payable.Journalize the entries to correct the errors. Omit explanations.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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| The following errors took place in journalizing and posting transactions: a. Rent expense of $4,650 paid for the current month was recorded as a debit to Miscellaneous Expense and a credit to Rent Expense. b. The payment of $3,700 from a customer on account was recorded as a debit to Cash and a credit to Accounts Payable. Journalize the entries to correct the errors. Omit explanations. |
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