Transaction	Error	Correction Needed
Extra capital of $38,000	Credited to Sales	Should be credited to Capital
Goods for own use $3,200	Debited to General Expenses	Should be debited to Drawings
Private insurance $180	Debited to Insurance	Should be debited to Drawings
Purchase from K. White $1,220	Entered as $1,120	Should be corrected to $1,220
Cash banked $1,260	Credited to bank column, debited to cash column	Should be corrected to bank column
Cash drawings $1,280	Credited to bank column	Should be debited to Drawings
Returns inwards $700 from S. Brown	Entered in error in R. Wilson’s account	Should be corrected to S. Brown account
Sale of equipment $5,200	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.