Instruction Chart of Accounts Journal A 1: III nstructions On March 1, it was discovered that the following errors took place in joumaizing and posting transactions: a. Rent Expense of $4,800 paid for the current month was recorded as a debit to Miscellaneous Expense and a credit to Rent Expense. b. The payment of $3,300 from a customer on account was recorded as a debit to Cash and a credit to Accounts Payable. Journalize the entries on March 1 to correct the errors. Use two entries to correct the error described in (a) (That is record an entry to see how yandandy record the correct entry) Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 42 Sales Commissions 13 Supplies 14 Prepaid Insurance EXPENSES 15 Land 16 Office Equipment 51 Advertising Expense 52 Automobile Expense 53 Insurance Expense 17 Automobiles 54 Rent Expense Uus Journal Instructions Chart of Accounts T Casil 41 Reus Call 12 Accounts Receivable 42 Sales Commissions 13 Supplies 14 Prepaid Insurance 15 Land 16 Office Equipment 17 Automobiles EXPENSES 51 Advertising Expense 52 Automobile Expense 53 Insurance Expense 54 Rent Expense 55 Salary Expense 56 Supplies Expense 57 Utilities Expense LIABILITIES 21 Accounts Payable 22 Uneared Rent 23 Notes Payable 24 Salaries Payable 58 Miscellaneous Expense hart of Accounts LIABILITIES 21 Accounts Payable 54 Rent Expense 55 Salary Expense 56 Supplies Expense 57 Utilities Expense 58 Miscellaneous Expense 22 Unearned Rent 23 Notes Payable 24 Salaries Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Journal Floween Dro Journalize the entries on March 1 to correct the errors. Use two entries to correct the error described in (a) (That is, record an entry to reverse the incorrect andy and a second record the correct entry) Refer to the Chart of Accounts for exact wording of account ines. JOURNAL DATE DESCRIPTION ACCOUNTING EQUATION 1 POST. REE DEBUT CREDIT ASSETS BUTIES EQUITY 2 3 4 5 6 Previous Ne