Problem 4.3A (Algo) Recording correcting entries. LO 4-4 The following journal entries were prepared by an employee of International Marketing Company who does not have an adequate knowledge of accounting. GENERAL JOURNAL PAGE 3 Post. Ref. Debit Credit Date Description 20X1 April 1 Accounts Payable Fees Income Performed services on credit 14,300 14,300 630 630 2 Cash Telephone Expense Paid for March telephone service, Check 1917 8,240 930 3 Office Equipment Office Supplies Accounts payable Purchased file cabinet and office supplies, Check 1918 9,170 (Assume that Office Equipment and Office Supplies were recorded at the correct values. However, the items were paid for entirely in cash, not on credit. Assume the errors are found and corrected on the last day of the month.) Required: Examine the above journal entries carefully and prepare the correcting journal entries. Analyze: After the correcting journal entries have been posted, what effect do the correcting entries have on the company's reported assets? in the tahs helow. View transaction list Journal entry worksheet 1 2 3 4 A Record the rectification entry for Performing services on credit. Note: Enter debits before credits. Debit Credit Date General Journal Apr 30, 20X1 View general journal Clear entry Record entry 3 4 Tony Record a reverse of the incorrect journal entry, Check 1917. Note: Enter debits before credits. Date General Journal Debit Credit Apr 30, 20X1 View general journal Record entry Clear entry Record the correct journal entry for payment made for March telephone service, Check 1917. Note: Enter debits before credits. Date General Journal Debit Credit Apr 30, 20X1 Record entry Clear entry View general journal General Analyze Jog General Joumal After the correcting journal entries have been posted, what effect do the correcting entries have assets? Assets by