Chrome File Edit View History Bookmarks Profiles Tab Window Help DO Tue 7:39 PM Q DE Home x Content x Question 3 - Wk 2 - Apply: X Basis of Financial Statemenomework Help - Q&A fron x C Solved $29,225 debit to Max > C a ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddle... @ ( * * c Update Wk 2 - Apply: Summative Assessment [due Day 7] i Saved Help Save & Exit Submit 3 Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3), identify the account(s) affected by the error. In column (4), indicate the amount by which the account(s) in column (3) is under- or overstated. Item (a) is completed as an example. (Select "None" if there is no effect.) 26.25 (1) Difference (2) points Column Description of Posting Error between (3) (4 ) Debit and with the Identify Account(s) Credit Larger Incorrectly Stated Amount That Account(s) Over- or Understated Total eBook Columns References $2,970 debit to Rent Expense is posted as a a. $ 180 Credit Rent Expense Rent Expense is understated by $180 $2,790 debit. $5,940 credit to Cash is posted twice as two Debit Cash Cash is overstated by $5,940 credits to Cash. $11,880 debit to the Withdrawals account is C. Debit Owner's withdrawals Owner's Withdrawals account is understated by $11,880 debited to Owner's Capital. $2,820 debit to Prepaid Insurance is posted as a Debit Insurance expense Insurance expense is understated by $2,820 debit to Insurance Expense $51,975 debit to Machinery is posted as a debit to e . Credit Accounts payable Accounts payable is understated by $51,975 Accounts Payable. Mc Graw Hill