In this problem, you will be given three errors that may or may not affect the trial balance. You are to determine the following: 1. As a result of each error, will the trial balance still balance? Consider each error separately. If you determine that the trial balance will not balance as a result of the error, then answer the following questions: 2. What is the amount of the difference between the two columns of the trial balance? 3. Which trial balance column (debit or credit) will become incrementally larger? Statement of Problem Will the trial balance still balance? What is the amount of the difference? Which trial balance column will become incrementally larger? The $740 balance of Supplies in the general ledger was omitted from the trial balance. O Yes No Debit Credit A debit entry of $470 to Prepaid Insurance was incorrectly posted to Insurance Expense. Yes No Debit Credit A receipt of $600 on account for services already performed was recorded as a debit to Cash for $60 and a credit to Accounts Receivable for $600. Yes No $0 Debit Credit 5