An inexperienced accountant for huang company made the following
An inexperienced accountant for Huang Company made the following errors in recording merchandising transactions.
|1.||A $302 refund to a customer for faulty merchandise was debited to Sales Revenue $302 and credited to Cash $302.|
|2.||A $220 credit purchase of supplies was debited to Inventory $220 and credited to Cash $220.|
|3.||A $204 sales discount was debited to Sales Revenue.|
|4.||A cash payment of $67 for freight on merchandise purchases was debited to Freight-Out $670 and credited to Cash $670.|
Prepare separate correcting entries for each error, assuming that the incorrect entry is not reversed. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)