Prepare the Necessary Correcting Entry for Each of the Following

question 224

Essay

Prepare the necessary correcting entry for each of the following.
a. A payment on account of $720 was debited to Accounts Payable $270 and credited to Cash $270.
b. The collection of Accounts Receivable of $570 was recorded as a debit to Cash $570 and a credit to Service Revenue $570.

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Definitions:

Autism

A developmental disorder characterized by difficulties with social interaction and communication, and by restricted or repetitive patterns of thought and behavior.

Chromosomes

are long strands of DNA and proteins found in the nucleus of cells, carrying genetic information.

Genes

Units of heredity made up of DNA that encode the instructions for the development, functioning, and reproduction of all known organisms.

Chromosomes

Chromosomes are long strands of DNA wrapped around proteins, located in the cell nucleus, containing genes that dictate hereditary traits.