estion 8 The Washington Company made the following six errors in its financial statements: t yet swered ints out of 20 Understated Flag estion Overstated Sales Discounts Sales 5 Beginning Inventory Interest Expense Ending Inventory 7 Purchase Discounts 3 Cost of goods sold will be in error by what amount? 8 2 Select one: a. $15 b. $18 c. $12 d. $16 e. $2 uestion 9 ot yet swered A bookkeeper recorded the expiration of prepaid insurance with this journal entry: Debit Prepaid Insurance, Credit Insurance Expense. What is the effect of the error on Total Assets and Total Expenses, respectively? oints out of -00 Flag uestion Select one: a. Overstated, Overstated b. Understated, Understated c. Overstated, Understated d. Understated, Overstated