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3. The trial balance of Greg Johnson presented below does not balance. In reviewing the ledger, you discover the following: a) The debits and credits
3. The trial balance of Greg Johnson presented below does not balance. In reviewing the ledger, you discover the following: a) The debits and credits in the cash account total $24,100 and $21,400 respectively. b) The $400 received in settlement of an account was not posted to the accounts receivable account The balance of the salaries expense account should be $200 less. c) d) No balance should exist in the notes payable account. e) Each account should have a normal balance. Prepare a corrected trial balance CR $ 800 Greg Johnson, Lawyer Trial Balance December 31, 19X8 DR Cash $ 3,000 Accounts receivable $ 11,800 Supplies Equipment $ 18,500 Accounts payable Notes payable Greg Johnson, Capital Greg Johnson, Drawing Fees income Salaries expense $ 8,200 $ S $ 1,500 300 15,400 500 29,000 S
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