sam33
Feb 28, 2007, 11:05 AM
The purchase of supplies on account for $550 was debited to equipment $55 and credited to accounts payable $55
CaptainForest
Feb 28, 2007, 08:42 PM
What was done:
Dr. Equipment 55
Cr. AP 55
What should have been done:
Dr. Supplies 550
Cr. AP 550
What needs to be done to correct it:
Dr. Supplies 550
Cr. Equipment 55
Dr. AP 495
riannefaye
Mar 21, 2011, 06:03 AM
Dr. Supplies 55
Cr. Accounts payable 55