Blossom Inc. mistakenly recorded an EFT payment as $455 that was written for $527 in payment of an amount owing to one of the company's suppliers. In addition, the company noticed that the bank had mistakenly deducted a cheque for $332 from its bank account that was written by another company. Identify any entries required on Blossom's books to correct these errors. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Account Titles and Explanation. (To correct error by company) (To correct error by bank) I Debit Credit

Blossom Inc. mistakenly recorded an EFT payment as $455 that was written for $527 in payment of an amount owing to one of the company's suppliers. In addition, the company noticed that the bank had mistakenly deducted a cheque for $332 from its bank account that was written by another company. Identify any entries required on Blossom's books to correct these errors. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Account Titles and Explanation. (To correct error by company) (To correct error by bank) I Debit Credit

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter8: Budgets And Bank Reconciliations

Section: Chapter Questions

Problem 2.10C

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