Exercise 2-22 (Algo) Identifying effects of posting errors on the trial balance LO P1 Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3), identify the account(s) affected by the error. In column (4), indicate the amount by which the account(s) in column (3) is under- or overstated. Item (a) is completed as an example. (Select "None" if there is no effect.) (1) (2) Column with the (3) (4) Description of Posting Error Difference between Debit and Credit Columns Identify Account(s) Incorrectly Stated Amount of account over- or understatement Larger Total a. $2,720 debit to Rent Expense is posted as a $2,270 debit. $ Rent Expense b. $5,440 credit to Cash is posted twice as two credits to Cash. c. $2,570 debit to Prepaid Insurance is posted as a debit to Insurance Expense. d. $47,600 debit to Machinery is posted as a debit to Accounts Payable. e. $6,340 credit to Services Revenue is posted as a $634 credit. f. $1,760 debit to Store Supplies is not posted. 450 Credit Rent Expense is understated by $450