Business, 01.02.2021 20:40 Kelshonti15
The trial balance of Blues Traveler Corporation does not balance.
Debit Credit
Cash $5,912
Accounts Receivable 5,240
Supplies 2,967
Equipment 6,100
Accounts Payable $7,044
Common Stock 8,000
Retained Earnings 2,000
Service Revenue 5,200
Office Expense 4,320
$24,539 $22,244
An examination of the ledger shows these errors.
1. Cash received from a customer on account was recorded (both debit and credit) as $1,790 instead of $2,060.
2. The purchase on account of a computer costing $3,088 was recorded as a debit to Office Expense and a credit to Accounts Payable.
3. Services were performed on account for a client, $2,460, for which Accounts Receivable was debited $2,460 and Service Revenue was credited $435.
4. A payment of $305 for telephone charges was entered as a debit to Office Expense and a debit to Cash.
5. The Service Revenue account was totaled at $5,410 instead of $5,490.
Required:
From this information prepare a corrected trial balance.
Answers: 2
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The trial balance of Blues Traveler Corporation does not balance.
Debit Credit
Cash $5,912 <...
Cash $5,912 <...
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