Thomas Company has employed a bookkeeper who is inexperienced. On December 27, after reviewing the records for the year, you discover the following error.
On June 1, Thomas Company paid a supplier $800 on account. The bookkeeper recorded this by debiting Cash for $800 and crediting Accounts Payable for $800.
Prepare a correcting entry on December 27. Make sure to enter the day for each separate transaction.
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