WXY Ltd. found that an extra capital of $20,000 paid into the bank had been credited to Sales. Goods taken for own use worth $1,400 had been debited to General Expenses. Private insurance of $90 had been debited to the Insurance account. A purchase of goods from Q. Young for $820 was entered in the books as $720. Cash banked of $480 was credited to the bank column and debited to the cash column in the cash book. Cash drawings of $550 had been credited to the bank column of the cash book. Returns inwards of $210 from T. Reed had been entered in error in B. Grant’s account. A sale of office furniture for $2,400 had been credited to Office Expenses.
 Requirement: Record the necessary journal entries to correct these errors and analyze their effect on the cash flow statement.