Once Yui had worked out his profit for the year, he found the following errors. 1. A purchase of a new motor vehicle costing $3200 had been debited to motor expenses. 2. The purchases account had been overcast by $500. What effect did correcting these errors have on the profit for the year? (Ignore depreciation)
- AIt decreased by $2700.
- BIt decreased by $3700.
- CIt increased by $2700.
- DIt increased by $3700.