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Faulty Companys year end ifs December 31. Its external auditors have discovered that two years ago a couple of transactions were put through Faultys books twice: Dr Cash $55,580 Cr Miscellaneous Revenue $55,580 Dr Rent Expense $30,400 Cr Cash $30,400 Assume that Faulty has such an incompetent bookkeeper that no bank reconciliations has been done since then. Solve the situation in one journal entry and ignore income tax implications.

Required 1: Correction of an error in previous years requires a prior period adjustment. What is the amount to report in the Cash account when credited? $

Required 2: Correction of an error in previous years requires a prior period adjustment. What is the amount to report in the Cash account when debited? $

Required 3: Correction of an error in previous years requires a prior period adjustment. What is the amount to report in the Rent Expense when credited? $

Required 4: Correction of an error in previous years requires a prior period adjustment. What is the amount to report in the Rent Expense when debited? $

Required 5: Correction of an error in previous years requires a prior period adjustment. What is the amount to report in the Miscellaneous Revenue when debited? $

Required 6: Correction of an error in previous years requires a prior period adjustment. What is the amount to report in the Miscellaneous Revenue account when credited? $

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