please use t accounts to show work.

Part 1. 60 points (2 points each) Using un O (overstated), U (understated), or N (neither), identify the effect of errors or omissions, if any, for Alpha's assets, liabilities, and not income. Assume that the error or omission wasn't corrected by the end of the year (December 31). Also assume that the whole journal entry or AJE was recorded or not recorded unless the facts state something different. For questions with two parts, you must combine them and give only one answer. Use CAPITAL letters. Alpha failed to record the following two transactions: The payment of a $500 dividend on the payment date and a $300 sale on credit. 0.0 4. Alpha paid $700 to repay a loan obtained at Beta Bank. However, Alpha erroneously recorded the payment as a cash purchase of equipment. Ignore any interest and depreciation. Alpha failed to record the following: (1) The return of $500 of inventory on credit (Alpha uses the periodic inventory system, and the returned items were not included in Alpha's ending inventory), and (2) the AJE for depreciation of $400 at the end of the current accounting period. Alpha sold and shipped merchandise on credit to Beta with terms F.O.B. Shipping Point. As of year end, the merchandise had not yet been received by Beta Alpha did not record the sale and did not include the merchandise in its ending inventory. Alpha uses the periodic inventory system. ATE