Exercise 3-02 Your answer is partially correct. Try again. The following trial balance of Novak Company does not balance. Your review of the ledger reveals the following. (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated $105. (C) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2,740 and $6,690, respectively. (d) A debit posting to Advertising Expense of $311 was omitted. (e) A $1,510 cash drawing by the owner was debited to Owner's Capital and credited to Cash. Credit Novak Company Trial Balance April 30, 2020 Debit Cash $5,105 Accounts Receivable 2,470 Prepaid Insurance 683 Equipment Accounts Payable Property Tax Payable 614 Owner's Capital Service Revenue 6,960 Salaries and Wages Expense 4,009 Advertising Expense 1,113 Property Tax Expense $20,954 $8,710 4,490 12,005 813 $26,018 Prepare a correct trial balance. NOVAK COMPANY Trial Balance April 30, 2020 Debit Credit x Cash 3,595 Account Receivable 2,740 Prepaid Insurance 788 X Equipment X Accounts Payable X Property Tax Payable Owner's Capital Service Revenue TSalaries and Wages Expens 4,009 Advertising Expense 1,424 X X TProperty Tax Expense X X x Totals $ SHOW LIST OF ACCOUNTS LINK TO TEXT Question Attempts: Unlimited