Below are three independent and unrelated errors.

a.	On December 31, 2012, Wolfe-Bache Corporation failed to accrue office supplies expense of $1,950. In January 2013, when it received the bill from its supplier, Wolfe-Bache made the following entry:

Office supplies expense	1,950
Cash		1,950

b.	On the last day of 2012, Midwest Importers received a $93,000 prepayment from a tenant for 2013 rent of a building. Midwest recorded the receipt as rent revenue.
c.	At the end of 2012, Dinkins-Lowery Corporation failed to accrue interest of $8,300 on a note receivable. At the beginning of 2013, when the company received the cash, it was recorded as interest revenue.

Required:

1.

For each error:

What would be the effect of each error on the income statement and the balance sheet in the 2012 financial statements?

2.	Prepare any journal entries each company should record in 2013 to correct the errors. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.)