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Question(s) / Instruction(s):

Max Weinberg Company discovered the following errors made in January 2008.

1.            A payment of Salaries Expense of $600 was debited to Equipment and credited to Cash, both for $600.

2.            A collection of $1,000 from a client on account was debited to Cash $100 and credited to Service Revenue $100.

3.            The purchase of equipment on account for $980 was debited to Equipment $890 and credited to Accounts Payable $890.

Instructions

(a)          Correct the errors by reversing the incorrect entry and preparing the correct entry.

(b)          Correct the errors without reversing the incorrect entry.

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