$ 4,200 13,200 16,700 100 52,100 Cash Accounts receivable Inventory Supplies. Land. Accounts payable Share capital. Service revenue............. Salary expense. Rent expense..... Utilities expense Total $ 11,800 45,000 32,500 1,200 1,400 500 $ 89,400 89,300 Recording Business Transactions The accounting records hold the following errors: a. Recorded a $500 cash revenue transaction by debiting Accounts Receivable. The credit entry was correct. b. Posted a $2,000 credit to Accounts Payable as $200. c. Did not record utilities expense or the related account payable in the amount of $1,000. d. Understated Share Capital by $1,400. e. Omitted Insurance Expense of $4,000 from the trial balance. LO 5 E2-22A. (Learning Objective 5: Correcting errors in a trial balance) The trial balance of Carver, Inc., at September 30, 20X6, does not balance: $4,200 13,200 16,700 100 52,100 Cash Accounts receivable Inventory Supplies Land Accounts payable. Share capital.. Service revenue............ Salary expense Rent expense Utilities expense $ 11,800 45,000 32,500 1,200 1,400 500 $ 89,400 Total... $89.300 The accounting records hold the following errors: a. Recorded a $500 cash revenue transaction by debiting Accounts Receivable. The credit entry was correct. b. Posted a $2,000 credit to Accounts Payable as $200. e. Did not record utilities expense or the related account payable in the amount of $1,000. d. Understated Share Capital by $1,400. e. Omitted Insurance Expense of $4,000 from the trial balance. $ 4,200 13,200 16,700 100 52,100 Cash Accounts receivable Inventory Supplies. Land. Accounts payable Share capital. Service revenue............. Salary expense. Rent expense..... Utilities expense Total $ 11,800 45,000 32,500 1,200 1,400 500 $ 89,400 89,300 Recording Business Transactions The accounting records hold the following errors: a. Recorded a $500 cash revenue transaction by debiting Accounts Receivable. The credit entry was correct. b. Posted a $2,000 credit to Accounts Payable as $200. c. Did not record utilities expense or the related account payable in the amount of $1,000. d. Understated Share Capital by $1,400. e. Omitted Insurance Expense of $4,000 from the trial balance. LO 5 E2-22A. (Learning Objective 5: Correcting errors in a trial balance) The trial balance of Carver, Inc., at September 30, 20X6, does not balance: $4,200 13,200 16,700 100 52,100 Cash Accounts receivable Inventory Supplies Land Accounts payable. Share capital.. Service revenue............ Salary expense Rent expense Utilities expense $ 11,800 45,000 32,500 1,200 1,400 500 $ 89,400 Total... $89.300 The accounting records hold the following errors: a. Recorded a $500 cash revenue transaction by debiting Accounts Receivable. The credit entry was correct. b. Posted a $2,000 credit to Accounts Payable as $200. e. Did not record utilities expense or the related account payable in the amount of $1,000. d. Understated Share Capital by $1,400. e. Omitted Insurance Expense of $4,000 from the trial balance