Correcting Entries

Date Particulars Debit Credit

31-Dec Depreciation Expense 10,000
Accumulated Depreciation 10,000

31-Dec Unearned Revenue 3,000

Revenue 3,000

31-Dec Note Payable 1500

Interest Expense 1500

31-Dec Prepaid Insurance 400

Insurance Expense 400

31-Dec Rent Receivable 750

Revenue 750

31-Dec Supplies 800

Supplies Expense 800
Error Asset Liabilities Capital Revenue Expense Net Income
1 +10000 -10000 +10000
2 +3000 -3000 -3000
3 +1500 +1500 -1500
4 -400 +400 -400
5 -750 -750 -750
6 -800 +800 -800