On Jun 8, Maltwater Saffy Company bought supplies on account from the Tweet Money Company...
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Accounting
On Jun 8, Maltwater Saffy Company bought supplies on account from the Tweet Money Company for $550. Maltwater Saffy Company incorrectly debited Equipment for $500 and credited Accounts Payable for $500. The entries have been posted to the ledger. The correcting entry should be: Select one: a. Supplies..... 550 Accounts Payable.......... 500 Equipment...... b. Supplies....... 550 Equipment...... Accounts Payable......... C. Supplies...... 550 Accounts Payable........ 50 500 50 550
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