ccounts 200 s0,000 $12,000 47,100 40,000 Supplies Accounts payable Common stock Sales revenue Salary expense Rent expense Utilities expense Total 2.400 900 800 $98,200 $99,100 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 $3,000 credit to Accounts Payable as $300. c. Did not record utilities expense or the related account payable in the amount of $240 d. Understated Common Stock by $100. e. Omitted Insurance Expense of $3,700 from the trial balance. Requirement 1. Prepare the correct trial balance at September 30, 2016, complete with a heading. Journal entries are not required. E2-25A. (Learning Objective 4: Analyze the impact of business transactions on accounts Set up the following Taccounts: Cash, Accounts Receivable, Office Supplies, Office Furniture, Accounts Payable, Common Stock, Dividends, Service Revenue, Salary Expense, and Rent Expense. Record the following transactions directly in the T-accounts without using a journal. Use the letters to identify the transactions. a. Leigh Hampton opened a law firm by investing $22.500 cash and office furniture with a fair value of $9,000. Organized as a professional corporation, the business issued com- mon stock to Hampton. b. Paid monthly rent of $1,600. c. Purchased office supplies on account, $1,400. d. Paid employees' salaries of $3,300. e. Paid $850 of the account payable created in transaction c. f. Performed legal service on account, $10,100. g. Declared and paid dividends of $2,300. E2-26A. (Learning Objective 6: Construct and use a trial balance) Refer to Exercise 2-25A 1. After recording the transactions in Exercise 2-25A, and assuming they all occurred in the month of January 2016, prepare the trial balance of Leigh Hampton, Attorney, at January 31, 2016. Use the T-accounts that have been prepared for the business