Transaction	Error	Correction Needed
Extra capital of $22,000	Credited to Sales	Should be credited to Capital
Goods for own use $2,600	Debited to General Expenses	Should be debited to Drawings
Private insurance $150	Debited to Insurance	Should be debited to Drawings
Purchase from J. White $1,160	Entered as $1,060	Should be corrected to $1,160
Cash banked $1,040	Credited to bank column, debited to cash column	Should be corrected to bank column
Cash drawings $1,120	Credited to bank column	Should be debited to Drawings
Returns inwards $580 from A. Brown	Entered in error in T. Wilson’s account	Should be corrected to A. Brown account
Sale of equipment $4,500	Credited to Office Expenses	Should be credited to Sales
Requirement: Record the journal entries to correct these errors and assess the impact on the current liabilities.