Correct the last two enteries in red. Use question $4$ to answer. Provide correct accounts and correct numbers

Sunland Company Limited, a small company following ASPE, is adjusting and correcting its books at the end of 2023. In reviewing its records, it compiles the following information. 1. 2. 3. 4. Sunland has failed to accrue sales commissions payable at the end Of each Of the last two years, as follows (the correct amounts were paid): Dec. 31, 2022 Dec. 31, 2023 $6,140 $3,850 In reviewing the December 31, 2023 inventory, Sunland discovered errors in its inventory-taking procedures that have caused inventories for the past three years to be incorrect, as follows: Dec. 31, 2021 Dec. 31, 2022 Dec. 31, 2023 Understated Understated Overstated $23,600 $25,800 $9,950 Sunland has already made an entry that recognized the incorrect December 31, 2023 inventory amount. In 2023, Sunland changed the depreciation method on its office equipment from double-declining-balance to straight-line because Of a change in the pattern Of benefits received. The equipment had an original cost Of $172,800 when purchased on January 1, 2021. At that time, it was estimated that the office equipment had an eight-year useful life and no residual value. Depreciation expense recorded prior to 2023 under the double-declining-balance method was $75,600. Sunland has already recorded 2023 depreciation expense of $24,300 using the double-declining-balance method. Before 2023, Sunland accounted for its income from long-term construction contracts on the completed-contract basis because it was unable to reliably measure the degree of completion or the estimated costs to complete. Early in 2023, Sunland changed to the percentage-of-completion basis for financial accounting purposes. The change was a result Of experience with the projects and improved ability to estimate the costs to completion and therefore the percentage complete. The completed-contract method will continue to be used for tax purposes. Income for 2023 has been recorded using the percentage-of-completion method. The following information is available: Pre-Tax Income Prior to 2023 2023 Percentage-of-Completion $195,900 76,100 Completed-Contract $147,800 32,000 Prepare the necessary journal entries at December 31, 2023, to record the above corrections and changes as appropriate. The books are still open for 2023. Because Sunland has not yet recorded its 2023 income tax expense and payable amounts, you may ignore tax effects for the current year. Sunland's income tax rate is 25%. Assume that Sunland applies the taxes payable method of accounting for income taxes. (List all debit entries before credit entries. Credit account titles are automatically when the amount is entered. DO not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. 1. 2. Account Titles and Explanation Retained Earnings Sales Commission Payable Debit Credit 3850