Examlex
The following errors in recording the transactions for June were discovered in the general journal the next month after the data had been posted to the ledger. Record the necessary correcting entries on page 2 of a general journal. Omit the descriptions.
June
1 Discovered that a purchase of supplies for $800 cash was recorded as a debit to Equipment and a credit to Cash
2 Discovered that a check for $1,100 to the owner, Hank Rudolph, to pay one month's rent on his personal apartment was recorded as a debit to Rent Expense and a credit to Cash
3 Discovered that a receipt of $3,000 cash from a credit customer was recorded as a debit to Cash and a credit to Accounts Payable
4 Discovered that $350 services performed on credit were recorded as a debit to Cash and a credit to Fees Income
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A business or entity that provides services as opposed to goods, focusing on meeting the needs of its customers.
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A systematic approach used to determine the most optimal location for a business or facility, considering factors like cost, accessibility, and market demand.
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Various factors or elements that influence the total income generated from the sale of goods or services by a company or organization.
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