Correcting a Trial Balance The following trial balance was prepared by a new employee.

Required:
Prepare the corrected company trial balance. (Assume all accounts have “normal” balances and the recorded amounts are correct.)

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Trial Balance Jeppson Company, Inc. For the Year Ended November 30, 2009 Credits Debits Cash Mortgage Payable Advertising Expense Capital Stock. Equipment Notes Payable Inventory Wages Expense $ 19,000 $ 75,200 9,600 110,000 36,900 197,350 142,000 87,900 Notes Receivable 12,000 Accounts Payable 23,450 Accounts Receivable 5,300 Rent Expense 8,750 Wages Payable 12,000 Furniture 18,000 Other Expenses 1,950 Sales Revenue 225,600 Buildings 110,700 Cost of Goods Sold 113,650 Property Tax Expense Land Retained Earnings Utilities Expense 1,300 95,850 21,400 2,100 Totals $584,150 $745,850