Prepare the Necessary Correcting Entry for Each of the Following

question 163

Essay

Prepare the necessary correcting entry for each of the following.
a. A payment of $5000 for salaries was recorded as a debit to Supplies Expense and a credit to Cash.
b. A purchase of supplies on account for $1000 was recorded as a debit to Equipment and a credit to Accounts Payable.

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Definitions:

Biological

Pertaining to the science of life or living organisms, encompassing their physiological processes, structural changes, and growth.

Gender Schema

A cognitive framework that organizes information regarding gendered characteristics and behaviors, influencing how individuals perceive and interact with the social world.

Gender Stability

The understanding and recognition that one’s gender remains constant over time and is not changed by superficial alterations in appearance or activities.

Gender Difference

Variations or disparities between males and females, encompassing biological, psychological, and social differences.