ework Assignment Problem 4.3A Recording correcting entries. LO 4-4 The following journal entries were prepared by an employee of International Marketing Company who does not have an adequate knowledge of accounting Description Ref. Debit 2019 April 1 Accounts Payable 15,800 Fees Incone 15,800 Performed services on credit 2 Cash 600 Telephone Expense 600 Paid for March telephone service, Check 1917 3 office Equipment Office Supplies 8,200 900 Cash 9,500 Purchased file cabinet and office supplies, Check 1918 Assume that Office Equipment and Office Supplies were recorded at the correct values.) Required: Examine the above journal entries carefully and prepare the correcting journal entries Analyze: After the correct journal entries have been posted, what effect do the corrections have on the company's reported assets