Discussion:

Assume that Sunshine Realty Co$.$ borrowed $$300,000$ from Columbia First Bank and Trust. In recording the transaction, Sunshine erroneously recorded the receipt as a debit to Cash, $$300,000,$ and a credit to Fees Earned, $$300,000.$

Original Post:

Make your original post by Wednesday $11$:$59$ p$.$m$.$

Answer the following questions and support your responses with detail.

How would this error affect the equality of the trial balance?

How would this error affect the income statement, statement of stockholders$$ equity, and balance sheet?