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Smework 1 Exercise 2-22 (Algo) Identifying effects of posting errors on the trial balance LO P1 Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trto balance columns (debit and credit due to the error in column (2). Identify the trtal balance column (debit or credit) with the larger amount if they are not equal in column (3). Identify the accountis) affected by the error in column (4). Indicate the amount by which the accounts) in column (3) ts under or overstated. Item (a) is completed as an example (Select "None" If there is no effect.) Description of Posting Error Difference between Debit and Credit Columns Column with the Larger Total (3) Identily Accounts) Incorrectly stated (4) Amount of account over or understatement - $1,760 debit to Rent Experise is posted as a 51.670 debit 3 00 Credit Rent Expense Rent Expense is understated by 300 0.53.520 credit to Cash is posted twice as two credits to Cash 51.610 debit to Prepaid Insurance is posted as a debit to Insurance Expense d 330.800 debit to Machinery is posted as a debit 10 Accounts Payable e. 34.420 credit to Services Revenue is posted as a 5442 bredt +3800 debt to Store Supplies is not posted