Stile Paving Company Had the Following Journal Entries for Each $\begin{array}{lccc}\text { Cash } & 200\\ \text { Sales } && 200\end{array}$

question 115

Essay

Stile Paving Company had the following journal entries for each of the transactions described.Prepare the correcting entry needed for each transaction.
a.A credit customer paid $200 to Stile Paving Company for the customer's outstanding balance.The journal entry made by the company was

$\begin{array}{lccc}\text { Cash } & 200\\ \text { Sales } && 200\end{array}$
b.A repair was made on some equipment.The cost was supposed to be charged to Repair Expense.The journal entry made by the company was
$\begin{array}{lccc}\text { Equipment } & 550\\ \text { Accounts Payeble} && 550\end{array}$
c.Depreciation for the current year was supposed to be $2,800,however the company made the following journal entry:
$\begin{array}{lccc}\text { Depreciation Expense } & 800\\ \text { Equipment} && 800\end{array}$
d.Supplies were acquired on account for $1,300.The company made the following journal entry:
$\begin{array}{lccc}\text { Supplies } & 1,300\\ \text { Accounts Receivable } && 1,300\end{array}$
e.The company paid $100 on account.The journal entry was:
$\begin{array}{lccc}\text { Accounts Receivable } &100\\ \text { Cash } && 100\end{array}$

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Definitions:

Forcing Style

A conflict resolution approach where one party imposes its will on another, disregarding the concerns and interests of the other party.

Goal Incompatibility

Occurs when the objectives or aims of individuals or groups interfere with one another, potentially causing conflict.

Different Departments

Distinct organizational units within a company, each specialized in specific functions or tasks.

Opportunity

A set of circumstances that makes it possible to do something or for something to happen.