Name Time Of minutes, 52 seconds Compen Air Wise 11 Question 4 Apple Companys internal audit discovered the following errors in the company's accounts. The audit occurred in 2022 before any adjusting or closing entries were prepared 1. A five-year casualty insurance policy was purchased beginning of 2020 for $35,000. The full amount was debited to insurance expense at the time; 2. At the end of 2021, the company failed to accrue $15.500 of sales commissions earned by employees during 2021. The expense was recorded when the commissions were paid in early 2022 3. on December 31, 2021, merchandise inventory was overstated by $25,000 due to a mistake in the physical inventory court using the periodic inventory system Required Prepare the journal entries to correct the errors for 2022 related to the situation described (assume the books of 2022 have not been closed. Ignore income taxes (20 marks) Format ALT ALTINIM