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. Date Description Ref. Debit Credit 20x2 Aprill Accounts Payable 12,200 Fees Income 12,200 Performed services on credit 580 580 2 Cash Telephone Expense Paid for March telephone service, Check 1917 7,840 880 8,720 3 Office Equipment Office Supplies Accounts payable Purchased file cabinet and office supplies, Check 1918 (Assume that Office Equipment and Office Supplies were recorded at the correct values. However, the items were paid fo 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 repon supplies, Check 1918 (Assume that Office Equipment and Office Supplies were recorded at the correct values. However, the items were paid 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 repo assets? Complete this question by entering your answers in the tabs below. General Journal Analyze Examine the above journal entries carefully and prepare the correcting journal entries. View transaction list Journal entry worksheet 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? Complete this question by entering your answers in the tabs below. General Journal Analyze After the correcting journal entries have been posted, what effect do the correcting entries have on the company's reported assets? Assets by