As the accountant for Jasper's Telemarketing Services, you discovered the following errors in the May 31 unadjusted trial balance that require correction:
a. Advertising Expense was debited and Accounts Receivable was credited on May 17 for $16,200 of repairs paid for by Jasper's.
b. On May 18, Computer Equipment was debited and Accounts Payable was credited, each for $8,100 regarding the purchase of office furniture in exchange for a promissory note.
c. On May 28, Cash was debited and Telemarketing Fees Earned was credited for $15,000 cash received in advance from a client.
d. The Telephone Expense account included $6,300 of delivery expense.
e. The Telemarketing Fees Earned account was credited for $1,200 of interest revenue.
Required
Journalize the correcting entries required on May 31.
Analysis Component: The error in (e) shows that an incorrect revenue account was credited. Since the net effect on the financial statements is nil after recording the correction, is it necessary to prepare a correcting entry for this type of error?