Question Details

Betty Wright, CPA, was asked by the controller 



Betty Wright, CPA, was asked by the controller ofv Gore Company to review the accounting records before  financial statements are prepared. Betty reviewed the records and found three errors.
1.	Cash paid on accounts payable for $930 was recorded as a debit to Accounts Payable $390 and a credit to Cash $390.
2.	The purchase of supplies on account for $500 was debited to Equipment $500 and credited to Accounts Payable $500.
3.	The company paid dividends  $1,200. The bookkeeper debited Accounts Receivable for $120 and credited Cash $120.
Instructions
Prepare an analysis of each error showing the
(a)	incorrect entry.
(b)	correct entry.
(c)	correcting entry.




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