On the last day of 2020, Midwest Importers received a $91,000 prepayment from a tenant for 2021 rent of a building. Midwest recorded the receipt as rent revenue. The error was discovered midway through 2021. At the end of 2020, Dinkins-Lowery Corporation failed to accrue interest of $8,100 on a note receivable. At the beginning of 2021, when the company received the cash, it was recorded as interest revenue. Required: For each error: 1. What would be the effect of each error on the income statement and the balance sheet in the 2020 financial statements