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.) Description of Posting Error (1) Difference between Debit and Credit Columns (2) Column (3) (4) Larger Total with the Identify Account(s) Incorrectly Stated Amount That Account(s) Over- or Understated $1,740 debit to Rent Expense is posted as a a. $ 270 Credit Rent Expense Rent Expense is understated by $270 $1,470 bit. $3,480 credit to Cash is posted twice as two b credits to Cash, $6,960 debit to the Withdrawals account is debited to Owner's Capital. $1,590 debit to Prepaid Insurance is posted as a d. debit to Insurance Expense. $30,450 debit to Machinery is posted as a debit to Accounts Payable. $4,380 credit to Services Revenue is posted as a $438 credit Description of Posting Error (1) Difference: between Debit and (2) Column Credit Columns with the Larger Total Identify Account(s) (3) Incorrectly Stated (4) Amount That Account(s) Over- or Understated $1,740 debit to Rent Expense is posted as a a $ 270 Credit $1,470 debit. Rent Expense Rent Expense is understated by $270 $3,480 credit to Cash is posted twice as two b. credits to Cash. $6,960 debit to the Withdrawals account is C debited to Owner's Capital. d. e. $1,590 debit to Prepaid Insurance is posted as a debit to Insurance Expense. $30,450 debit to Machinery is posted as a debit to Accounts Payable f $4,380 credit to Services Revenue is posted as a $438 credit 9. $780 debit to Store Supplies is not posted.. (1) Difference between (2) Column (3) ng Error Debit and Credit with the Identify Account Larger Incorrectly State Total Columns s posted as a $ 270 Credit Rent Expense twice as two s account is 624 Debit Credit None nce is posted as a posted as a debit to enue is posted as a is not posted. (2) lumn (3) ch the arger Identify Account(s) Incorrectly Stated Amou Total edit Rent Expense Rent Exper Accounts payable Cash Insurance expense Machinery (2) lumn (3) Ch the arger Identify Account(s) Incorrectly Stated Amo Total edit Rent Expense Rent Expe Owner's capital Owner's withdrawals Prepaid insurance Revenue Services revenue Store supplies + (4) Amount That Account(s) Over- or Understated Rent Expense is understated by $270 Accounts payable is overstated by $30,450 Accounts payable is understated by $30,450 Cash is overstated by $3,480 Cash is understated by $3,480 (4) Amount That Account(s) Over- or Understated Rent Expense is understated by $270 Insurance expense is overstated by $1,590 Insurance expense is understated by $1,590 Machinery is overstated by $30,450 Machinery is understated by $30,450 Owner's capital account is overstated by $6,960 (4) Amount That Account(s) Over- or Understated Rent Expense is understated by $270 Owner's capital account is understated by $6,960 Owner's Withdrawals account is overstated by $6,960 Owner's Withdrawals account is understated by $6,960 Prepaid insurance is overstated by $1,590 Prepaid insurance is understated by $1,590 Services FOVODU is overstated by $2.012 ne" if there is no effect.) (4) Amount That Account(s) Over- or Understated Rent Expense is understated by $270 Prepaid insurance is understated by $1,590 Services revenue is overstated by $3,942 Services revenue is understated by $3,942 Store supplies is overstated by $780 Store supplies is understated by $780