FINDING AND CORRECTING ERRORS Joe Adams bought $500 worth of office supplies on account. The following entry was recorded on May 17. Find the error(s) and correct it (them) using the ruling method. On...

FINDING AND CORRECTING ERRORS Joe Adams bought $500 worth of office supplies on account. The following entry was recorded on May 17. Find the error(s) and correct it (them) using the ruling method.

On May 25, after the transactions had been posted, Adams discovered that the following entry contains an error. The cash received represents a collection on account, rather than new service fees. Correct the error in the general journal using the correcting entry method.