QuestionQuestion 5: For each of the following INDEPENDENT cases, journalize the necessary correcting enty (Note: you are not allowed to use the reversing entry approach-Write one correcting entry for each case.) (a) [2 Points] On $8 / 3 / 2022$, the company purchased supplies for $\$ 3,000$ cash, which was recorded by debiting cash and crediting equipment with an amount of $\$ 300$ (b) [2 Points] On $1 / 11 / 2022$ "ABC" Company borrowed $\$ 120,000$ for 5 months at an interest rate of $6 \%$. On that date, the company recorded the borrowing by debiting cash for an amount of $\$ 12,300$, crediting a note payable for $\$ 12,000$, and crediting interest payable $\$ 300$. (c) [2 Pbints] The monthly salaries are equal to $\$ 20,000$. On $30 / 11 / 2022$, the company paid $80 \%$ of the salaries and will pay the remaining balance on $10 / 12 / 2022$. The company recorded the payment by debiting salaries expense $\$ 12,000$ and crediting salaries payable $\$ 12,000$. (d) [2 Points] On $1 / 6 / 2022$ "ABC" Company purchased equipment for $\$ 260,000$. The equipment has an estimated useful life and salvage value of 20 years and \$20,000, respectively. At the end of the financial period, the accountant recorded the adjusting entry for the depreciation by debiting depreciation expense$\$12,000$ and crediting equipment $\$ 12,000$