can someone explain how to do this? dams Company has employed a bookkeeper who i

Question

can someone explain how to do this?

dams Company has employed a bookkeeper who is inexperienced. On December 28, after eviewing the records for the year, you discover the following error On June 1, Adams Company paid a supplier $300 on account. The bookkeeper recorded this by ebiting Cash for $300 and crediting Accounts Payable for $300. Required: Prepare a correcting entry on December 28. Make sure to enter the day for each separate ransaction Date Account Title Debit Credit Cash Supplies Expense Supplies Accounts Payable Clear Undo Help

Explanation / Answer

In the given problem, the bookkeeper passed an incorrect entry. To correct the error, we'll first reverse the incorrect entry and then pass the correct entry. Date Debit Credit 28-Dec Accounts Payable 300       Cash 300 28-Dec Accounts Payable 300       Cash 300

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.