Prepare a post-closing trial balance (Learning Objective 4) 10–15 min.

The following post-closing trial balance was prepared for Photo Finish, Inc., but some balances were entered in the wrong column. Prepare a corrected post-closing trial balance.

Assume all accounts have normal balances and the amounts are correct.AppendixLO1

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Photo Finish, Inc. Post-Closing Trial Balance July 31, 2014 ACCOUNT DEBIT CREDIT Cash $10,250 Accounts Receivable 13,200 Supplies $ 1,700 Equipment 23,000 Accumulated Depreciation, Equipment 5,000 Accounts Payable 5,200 Salaries Payable 4,700 Unearned Service Revenue 3,000 Common Stock 15,000 Retained Earnings 15,250 Total $51,900 $44,400