Consider the following journal entry: Buildings 30,000 Cash 29,800 What is true about this entry? The company bought a building worth $30,000 but got a $200 discount This is not a valid journal entry because debits and credits do not balance The company bought a building for $30,000 This is not a valid journal entry because debits and credits are reversed Cash 15,000 Accounts payable 15,000 Accounts receivable 35,000 Note payable 25,000 Supplies 4,000 Prepaid insurance 3,000 Other prepaid 1,000 expense Equipment 65,000 Buildings 140,000 Land 40,000 Mortgage payable 85,000 Paid-in-capital 195,000 Capital 22,000 withdrawals Revenues 190,000 Salaries expense 73,000 Rent expense 65,000 Utilities expense 37,000 Patents 10,000 Assuming that all of these accounts have normal balances, what is the total of the trial balance? $532,000 $508,000 $488,000 $510,000