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.)

Description of Posting Error Difference between Column with Debit and Credit the Larger Columns Total 270 Credit Identify Account(s) Incorrectly stated Amount That Account(s) Over-or Understated Rent Expense Rent Expense is understated by $270 $2,740 debit to Rent Expense is posted as a $2,470 debit. $5,480 credit to Cash is posted twice as two credits to Cash. $10,960 debit to the Dividends account is debited to Common Stock $2,590 debit to Prepaid Insurance is posted as a debit to Insurance Expense. $47,950 debit to Machinery is posted as a debit to Accounts Payable. $6,380 credit to Services Revenue is posted as a $638 credit. $1,780 debit to Store Supplies is not posted