Given the table below, indicate the impact of the following errors made during the adjusting entry process. Use a "+" followed by the amount for overstatements, a "-" followed by the amount for understatements, and a "0" for no effect. The first one is done as an example.Ex. Failed to recognize that $600 of unearned revenues, previously recorded as liabilities, had been earned by year-end.1. Failed to accrue interest expense of $200.2. Forgot to record $7,700 of depreciation on machinery.3. Failed to accrue $1,300 of revenue earned but not collected. Error Revenues Expenses Assets Liabilities EquityEX-$60000+$600-$6001. ________ ________ ________ ________ ________2. ________ ________ ________ ________ ________3. ________ ________ ________ ________
________
What will be an ideal response?
| Error | Revenues | Expenses | Assets | Liabilities | Equity | ? |
| 1. | 0 | -$200 | 0 | -$200 | +$200 | ? |
| 2. | 0 | -$7,700 | +$7,700 | 0 | +$7,700 | ? |
| 3. | -$1,300 | 0 | -$1,300 | 0 | -$ 1,300 | ? |
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