The following errors took place in journalizing and posting transactions:Cash of $4,370 received on account was recorded as a debit to Fees Earned and a credit to Cash. A $1,440 purchase of supplies for cash was recorded as a debit to Supplies Expense and a credit to Accounts Payable. Note: Prepare the entry to reverse the original entry first.

Answer and Explanation:

The journal entries are shown below:

Cash A/c Dr $8,760

        To Fees earned $4,370

        To Accounts Receivable $4,370

(being wrong entry made now corrected)

Accounts Payable Dr $1,440

          To Supplies Expense $1,440

Supplies a/c Dr 1760

        To Cash 1760

 (being wrong entry made now corrected)

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.