Practice Exercise 2-2. Correcting Entries The following are selected transactions of Bali Eatery in October 2020: Paid insurance for the month, P15,000 October 5 11 Received cash from a customer on account, P5,482 15 Purchased supplies on credit, P500 29 Made a cash purchase of equipment, P65,000 31 Bali withdrew cash for the personal use, P7,800 The following journal entries were prepared and posted to the general ledger: October 5 Rent Expense Cash 11 Cash Accounts Receivable 15 Supplies Accounts Receivable 15,000 15,000 54,820 54,820 500 5000 29 Building 65,000 Bali, Capital 65,000 Cash 31 Miscellaneous Expense REQU RED: Prepare the necessary correcting entries as of November 1, 2020. 780 780