Greer Incorporated discovered the following errors on the books at the beginning of 2017:

a. Maintenance expense on account was overstated by $20,000 in 2015 and understated by $30,000 in 2016. The payables for both years are still unpaid.

b. Depreciation expense was overstated by $55,000 in 2015 and understated by $70,000 in 2016.

c. Ending inventory was understated by $120,000 in 2015 and overstated by $178,000 in 2016.

Required

Prepare the entry required lo correct these entries in 2017 when they are discovered, assuming that books have been closed for both 2015 and 2016. Greer does not prepare comparative statements.