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Assess the following accounting adjustments and identify the type of adjustment required and indicate which financial element it affects. From the below transaction select the

Assess the following accounting adjustments and identify the type of adjustment required and indicate which financial element it affects. From the below transaction select the correct combination of Column A and Column B from the drop-down list corresponding to your choice next to the question number. e.g. 1.1 E 7 = E (Property, Plant and Equipment) 7 (Non-current assets) Adjustment Table: Element: A: Correction of an error 1. Asset B: Allowance for credit losses 2. Equity C: Accrued income 3. Liability D: Accrued expenses E: Income received in advance F: Depreciation G: Credit losses H: Prepaid expenses I: Consumable inventory Question: Salaries and wages of R4500 was posted to the repairs and maintenance account. E 3 D 3 C 1 G 1/2 A 2

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