Exercise $20-23($Algo$)$ Error correction; three errors $[$LO$20-6]$

Below are three independent and unrelated errors.

On December $31,2020,$ Wolfe$-$Bache Corporation failed to accrue salaries expense of $$2,100.$ In January $2021,$ when it paid employees for the December $27$January $2$ workweek, Wolfe$-$Bache made the following entry:

Salaries expense $2,100$

Cash $2,100$

On the last day of $2020,$ Midwest Importers received a $$96,000$ prepayment from a tenant for $2021$ rent of a building. Midwest recorded the receipt as rent revenue. The error was discovered midway through $2021.$

At the end of $2020,$ Dinkins$-$Lowery Corporation failed to accrue interest of $$8,600$ on a note receivable. At the beginning of $2021,$ when the company received the cash, it was recorded as interest revenue.

Required:

For each error:

$1.$ What would be the effect of each error on the income statement and the balance sheet in the $2020$ financial statements?

$2.$ Prepare any journal entries each company should record in $2021$ to correct the errors.