Incorrect Stated Year 1 Year 2 Correct Stated Year 1 Year 2 Accurate entry of cost associate with the sale DR CR Sales Revenue Project A Project B Project C Project D Date Description Ref. 1/31/42 Sales Project A Year 1 Sales Project A Year 2 To record error on sales Project A 37,750 28,900 38,000 11,300 17,500 26,500 Ref. CR 115,950 44,000 Date Description DR 1/31/42 Sales Project C Year 1 Sales Project C Year 2 To record error on sales Project C 9,000 7,500 12,850 8,000 11,400 39,750 Total Sales Cost Sales Project A Project B Project C Project D Total Cost of Sa Labor Cost Project A Project B Project C Project D Total Labor Cos 6,450 10,000 25,450 DR CR Date 1/31/42 Description Ref. Cost of Sales Proj. B Year 2 Cost of Sales Proj. B Year 1 To record error on CGS Project B 2,000 3,500 4,550 5,100 3,050 16,200 CR Date 1/31/42 2,990 4,990 Gross Margin G & A Expenses Net Income 60,000 2,500 57,500 13,560 3,000 10,560 Description Ref. DR Labor Cost Proj. B Year 2 Labor Cost Proj. B Year 1 To record error on Labor Cost Project B Description Ref. DR Labor Cost Proj. C Year 2 Labor Cost Proj. C Year 1 CR Date 1/31/42 * Sales- Project A for year 2 $14,500 Sales- Project B for year 2 $17,500 Sales- Project Cfor year 2 $21,000 Cost of Sales- Project A for year 2 $9,000 * Cost of Sales- Project B for year 2 $8,300 Cost of Sales- Project Cfor year 2 $6,450 Labor Cost- Project A for year 2 $2,000 Labor Cost- Project B for year 2 $2,050 * Labor Cost- Project for year 2 $2,275 These transactions were posted in year 1