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vishal1975
Feb 9, 2011, 09:40 AM
What would be the correcting entry for the below mentioned queries:-

1)wages not yet paid amounting to $850 recorded to wages expense as $580
2) included in account receivable are sales of concert recording amounting of $1700 not recorded in income.
3) funds received on amount from customer were recorded in cash as $1805 instead of the $1850 actually received,which was properly recorded in accounts recievable.

mariloursaberon
Feb 13, 2011, 09:31 PM
1. Wage Expense 270
Cash/Cash in Bank 270

2. Income(Type of Income) 1700
A/R 1700
3. Cash 45
Accounts Receivable 45