BUSI 102 - Financial Accounting Final June 20, 2010 Question 8 (20 points) The trial balance of Red House Painters shown below does not balance. RED HOUSE PAINTERS Trial Balance June 30, 2016 Debit Credit Cash $ 2,780 Accounts Receivable 7,420 Supplies 600 Equipment 8,300 Accounts Payable $ 9,777 Owner's Capital 1,952 Owner's Drawings 1,300 Service Revenue 15,200 Salaries and Wages Expense 3,800 Maintenance and Repairs Expense. 1.600 Totals. S25,800 $26.929 An examination of the ledger and journal reveals the following errors: 1. Each of the above listed accounts has a normal balance per the general ledger. 2. Cash of $270 received from a customer on account was debited to Cash $720 and credited to Accounts Receivable $720. 3. A withdrawal of $400 by the owner was posted as a credit to Owner's Drawings, $400 and credit to Cash $400. 4. A debit of $300 was not posted to Salaries and Wages Expense. 5. The purchase of equipment on account for $700 was recorded as a debit to Repair Expense and a credit to Accounts Payable for $700. 6. Services were performed on account for a customer, $510, for which Accounts Receivable was debited $510 and Service Revenue was credited $51. 7. A payment on account for $235 was credited to Cash for $235 and credited to Accounts Payable for $253 Instructions Prepare a correct trial balance