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Exercise 2 Correct the trial balance and explain each of the errors. We need to identify the errors what is missing and why is important

Exercise 2 Correct the trial balance and explain each of the errors.

We need to identify the errors what is missing and why is important to have it on the journal

Account (Account) Debit (Debit) Credit (Credit)

Cash 584,000

Accounts receivable (accounts receivable) 210,000

Equipment 140,000

Materials (supplies) 18,000

Accounts payable 43,000

Juan Romn, capital 632,000

Fee earned

Rent expense 20,000

Salary expense 280,000

Total 1,320,000 1,320,000

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