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Mr1 - crediting supplies for $50 and another that records...

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Mr. Green discovers the error on May 2, after receiving a bill for the supplies. He may use two entries  to fix the error: one that reverses the incorrect entry by debiting accounts receivable for $50 and 
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Unformatted text preview: crediting supplies for $50, and another that records the transaction correctly by debiting supplies for $50 and crediting accounts payable for $50....
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