Problem 4-96 The following errors in recording the transactions for December wer

Question

Problem 4-96 The following errors in recording the transactions for December were discovered in the general journal the next month after the data had been posted to the ledger Dec. 5 Discovered that a purchase of office equipment for $1,100 cash was recorded as a debit to Shop Equipment and a credit to Cash 10 Discovered that a check for $2,700 to the owner, Hank Rudolph, to pay one month's utilities on his personal apartment was recorded as a debit to Utilities Expense and a credit to Cash. performed was recorded as a debit to Cash and a credit to Accounts Receivable. and a credit to Prepaid Rent. 15 Discovered that a receipt of $30,500 cash from a customer for services 20 Discovered that $3,150 for this month's rent was recorded as a debit to Cash Record the necessary correcting entries.

Explanation / Answer

Correcting entries: Date Accounts title and explanations Debit $ Credit $ 5-Dec Office Equipment Dr. 1100     Shop Equipment 1100 10-Dec Hank Rudolph Drawings Dr. 2700       Utilities expenses 2700 15-Dec Accounts receivable Dr. 30500      Service revenue 30500 20-Dec Rent expense Dr. 3150 Prepaid rent Dr. 3150      Cash account 6300

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