Create an accounting journal for expenses overstated.

Date: January 15, 2022

Accounting Journal for Expenses Overstated

| Date | Account | Debit ($) | Credit ($) |
|------------|-------------------|-----------|------------|
| 01/15/2022 | Expense Overstated | 500 | |
| 01/15/2022 | Cash | | 500 |

Explanation:
On January 15, 2022, it was discovered that expenses were overstated by $500. To correct this error, an entry was made to reduce the expense account and increase the cash account by $500.

Date | Account | Debit | Credit
------- | -------- | --------: | --------:
[Date of Discovery] | Expense | XX |
| Retained Earnings | XX