Question - Journalize the entries to correct the following errors:
a. A purchase of supplies for $128 on account was recorded and posted as a debit to Supplies for $417 and as a credit to Accounts Receivable for $417. (Record the entry to reverse the error first.)
b. A receipt of $3,892 from Fees Earned was recorded and posted as a debit to Fees Earned for $3,892 and a credit to Cash for $3,892.