Provide the adjusting entry for Transaction B (listed above) that would have been required. Because Blackboard...

  

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Provide the adjusting entry for Transaction B (listed above) that would have been required. "Because Blackboard is very sensitive in grading your responses, copy & paste from these account titles to insure your answer is not counted wrong for an abbreviation or typo. The dollar amount does not need to include a dollar sign or comma. AJE for Transaction B: D at Account Title Debit # e 1 2 Prepaid Insurance 10070 1 Insurance Expense Credit # 10070 QUESTION 3 If ABC did not do either of the adjusting entries associated with Transactions A and B (from the above information) on December 31, 2015, determine the cumulative effect of all errors on assets, liabilities and equity at December 31, 2015. Answer Format: Use O for overstated, U for understated, and NE for No Effect. Do not space between the O/U/NE and the dollar amount of the error. (Example: If Assets are Over by $2,000, record your answer as O2000) Assets $ 010700 Liabilities S 04000 Equity S NE Net Income (15) $ U6700 Provide the adjusting entry for Transaction B (listed above) that would have been required. "Because Blackboard is very sensitive in grading your responses, copy & paste from these account titles to insure your answer is not counted wrong for an abbreviation or typo. The dollar amount does not need to include a dollar sign or comma. AJE for Transaction B: D at Account Title Debit # e 1 2 Prepaid Insurance 10070 1 Insurance Expense Credit # 10070 QUESTION 3 If ABC did not do either of the adjusting entries associated with Transactions A and B (from the above information) on December 31, 2015, determine the cumulative effect of all errors on assets, liabilities and equity at December 31, 2015. Answer Format: Use O for overstated, U for understated, and NE for No Effect. Do not space between the O/U/NE and the dollar amount of the error. (Example: If Assets are Over by $2,000, record your answer as O2000) Assets $ 010700 Liabilities S 04000 Equity S NE Net Income (15) $ U6700