#a for each item indicate the effect and the amount of the error that is understated, overstated, and no effect

#b correct each error by reversing the original error and record the correct entry

#1 rent cheque of $1000 was debited to rent expense and credited to cash

#2 cash payment from a customer for $750 was debited to account receivable and credited to cash as $570

#3 an account of interest income of $600 was recorded as a credit to interest payable and a debit to interest receivable

#4 the purchase of six month of office supply $1800 was recorded as a debit to supply expense and credited to accounts payable

#5 payments to accounts payable of $500 was recorded as a debit to cash and credit to accounts payable

#6 a prepayment of $450 for services to be rendered was debited to service revenue and credited to unearned revenue in the amount of $540

#7 depreciation expense of $800 for the period was not recorded

#8 a customer was billed for $400 of services rendered unearned revenue was debited and service revenue was credited

#9 a one year insurance policy was purchase for $2400 and was debited to insurance expense and credited to cash

#10 salaries payable of $1000 was not recorded