Wakefield Company discovered the following errors made in January 2014.

Wakefield Company discovered the following errors made in January 2014.

1.    A payment of salaries expense of $900 was debited to Equipment and credited to Cash, both for $900.

2.    A collection of $2,000 from a client on account was debited to Cash $200 and credited to Service Revenue $200.

3.    The purchase of equipment on account for $680 was debited to Equipment $860 and credited to Accounts Payable $860.

Instructions

Correct the errors by reversing the incorrect entry and preparing the correct entry.

                                      

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