1. A $1,999 payment for repairs was erroneously charged to the Cost of Goods Sold account (Assume that the perpetual inventory system is used.) 2. Sales to customers for $2,233 at December 31, Year 1, were not recorded in the books for Year 1. Also, the $1,470 cost of goods sold was not recorded. 3. A mathematical error was made in determining ending inventory. Ending inventory was understated by $766. (The Inventory account was mistakenly written down to the Cost of Goods Sold account.) Required Determine the effect, if any, of each of the errors on the following items. Give the dollar amount of the effect and whether it would overstate (O), understate (U), or not affect (leave blank) the account. The first item for each error is recorded as an example. Complete this question by entering your answers in the tabs below. Give the dollar amount of the effect and state whether the payment made for repairs erroneously charged of \$1,999 to the Cost of Goods Sold account would overstate (O), understate (U), or not affect (leave blank) the account, The first item of the error is recorded as an example. (input the amount as a positive value.) A $1,999 payment for repairs was erroneously charged to the Cost of Goods Sold account. (Assume that the perpetual inventory system is used.) 2. Sales to customers for $2,233 at December 31, Year 1, were not recorded in the books for Year 1, Also, the $1,470 cost of goods sold was not recorded. 3. A mathematical error was made in determining ending inventory. Ending inventory was understated by $766. (The Inventory account was mistakenly written down to the Cost of Goods Sold account.) Required Determine the offect, if any, of each of the errors on the following items. Give the dollar amount of the effect and whether it would overstate (O), understate (U), or not affect (leave blank) the account. The first item for each error is recorded as an example. Complete this question by entering your answers in the tabs below. Give the dollar amount of the effect and state whether not recording soles to customers for $2,233 at December 31 , Year 1 nor the cost of goods sold of $1,470 in the books would overstate (O), understate (U), or not affect (leave blank) the account. The first item of the error is recorded as an example. (Input the amount as a positive value.) 2. A $1,999 payment for repairs was erroneously charged to the Cost of Goods Sold account. (Assume that the perpetual inventory system is used.) 2. Sales to customers for $2,233 at December 31, Year 1, were not recorded in the books for Year 1 . Also, the $1,470 cost of goods sold was not recorded. 3. A mathematical error was made in determining ending inventory. Ending inventory was understated by $766. (The Inventory account was mistakenly written down to the Cost of Goods Sold account.) Required Determine the effect, if any, of each of the errors on the following items, Give the dollar amount of the effect and whether it would overstate (O), understate (U), or not affect (leave blank) the account. The first item for each error is recorded as an example. Complete this question by entering your answers in the tabs below. Give the dollar amount of the effect and state whether a mathematical error made in determining ending inventory that understated ending inventory by $766 would overstate (O), understate (U), or not affect (leave blank) the account. The first item of the error is recorded as an example. (Input the amount as a positive value.) PROBLEM S-20A
