On your own 4-3 Journalizing correcting entries and correcting posting errors A journal and general ledger accounts are given in the Working Papers. Work this problem independently. Transactions: July 1. Discovered that a transaction for supplies bought last month was journalized and posted in error as a debit to Prepaid Insurance instead of Supplies, $110.00. M23. 1. Discovered that a transaction for advertising expense for last month was journalized and posted in error as a debit to Miscellaneous Expense instead of Advertising Expense, $440.00. M24. 1. Journalize each correcting entry discovered during July of the current year. Use page 11 of the journal. 2. It was also discovered that two posting errors were made in the owner's capital account. The June 1 entry amount should have been $25,000.00. The June 15 entry included a credit to the capital account for $1,000.00 that was posted in error as a debit. Using the account provided in the Working Papers and the information given, correct the two posting errors. Journalizing Correcting Entries and Correcting Posting Errors Lesson 4-3 1131-3 Work Together pg. 113 Journalizing correcting entries and correcting posting errors Part 1 GENERAL JOURNAL PAGE DOC. POST DATE ACCOUNT TITLE NO REF. DEBIT CREDIT Sep. 1 Heather Hasley Capital R1 $ 4,500.00 4 Supplies M1 670.00 Accounts payable Bodden Company R2 300.00 7 Prepaid insurance C1 $195.00 10 Accounts reveivable Ken garlie $ 12,000.00 13 T13 490.00 18 Advertsing expense C2 S 35.00 21 accounts payable Bodden Company C3 $ 100.00 27 Heather Hasley Drawing C4 1,300.00 10 27 Supplies R3 300.00 11 30 Heather Haley Drawing C5 100.00 12 30 134-3 On Your Own pg. 113 Part 2 ACCOUNT Janet Bies, Capital ACCOUNT NO. 310 POST BALANCE DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT June G10 $2,500.00 $2,500.00 15 G10 $1,000.00 $1,500.00