ERROR CORRECTION.

ERROR CORRECTION Fill in the missing box. (10 points) When the records of PERL Corporation were reviewed at the close of 2017, the errors listed below were discovered. For each item, indicate the effect of each of these errors in the appropriate column. Write U if it understated, 0 for overstated and X if there is no effect. Copy the 2016 and 2017 columns in your answer sheet and write you final answer. No erasure. 2016 2017 Net Working Retained Net Working Retained Income capital Earnings Income Capital Earnings 1. Failure to record supplies on hand at the end of 2016 2. Understatement of 2016 ending inventory 3. Failure to record merchandise purchased on account at the end of 2016 4. Failure to record accrued salaries at the end of 2016 5. Failure to record amortization of patent at the end of 2016 6. Failure to record sale of merchandise on account at the end of 2016 7. Failure to record bad debts expense at the end of 2016 8. Failure to recognized unearned rent at the end of 2016 9. Failure to take up prepaid insurance at the end of 2016 10. Failure to record accrued interest on notes receivable at the end of 2016