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The company accountant recorded the receipt of cash for service revenue by debiting Cash for...

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Accounting

The company accountant recorded the receipt of cash for service revenue by debiting Cash for $1,640 instead of the correct amount of $1,460. Service Revenue was also credited for $1,640, the incorrect amount.

A $185 purchase of supplies on account was recorded by debiting Accounts Payable and crediting Supplies.

The company accountant recorded a $1,350 rent payment by debiting Rent Expense for $135 and crediting Cash for $135.

In recording a $1,750 receipt on account, Cash was debited and Accounts Payable was credited.

Prepare the necessary journal entries to correct each of these errors.

For each of the errors, determine whether the error would cause net income to be overstated, understated, or unchanged.

Prepare the necessary journal entries to correct each of these errors.

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