After the financial statements of P&Q Enterprises had been prepared for the 20x1 financial year and the ledger accounts closed, these errors were discovered:

1. The year-end allowance for bad debts of R3 000 had been transferred to sales in the closing entries.

2. Prepaid insurance of R1 200 had been treated as an expense.

3. Accrued interest payable of R1 000 had been entirely omitted from the books.

4. When counting inventory at the financial year end, goods that cost R4 000 were counted and included twice.

5. Accumulated depreciation: office equipment was understated by R250 as a machine that cost R1 000 was incorrectly debited to repairs expense.

6. Accrued rental income of R500 was omitted from the books.

7. Inventory taken by the owner (and that cost R700) was not recorded.

You are required to:

Prepare journal entries to correct the above errors. If a correcting entry is not required, state this fact and give your reasons why not.