Response to the following problem:
Gibson Hospital received $2,300 in payment of a patient's account receivable on December 27, 20X1. In the transaction entry, however, the credit was made erroneously to routine service revenues. The error was not discovered until after the financial statements for 20X1 were prepared.
What effect would this error have on total assets, total liabilities, and hospital net assets, as reported in the hospital's December 31, 20X1, balance sheet?