As a result of one error, the trial balance prepared by your company at the end of the month did not balance. In reviewing the entries for the month, the accountant noticed that one of the transactions, for the purchase of fumiture and fixtures, was recorded as a debit to Furniture and Fixtures, $500, and a debit to Bank, $500. Answer the following questions about this transaction Was the Bank account overstated, understated, or correctly stated on the trial balance? If overstated or understated, by how much? Was the total of the debit column of the trial balance overstated, understated, correctly stated? If overstated or understated, by how much? Was the total credit column of the trial balance overstated, understated, or correctly stated? If overstated or understated, by how much? b d C a :: not applicable :: overstated correct :: 1,000