Instructions The Lexington Group has the following unadjusted trial balance as of May 31, 2018: The Lexington Group UNADJUSTED TRIAL BALANCE May 31, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 17,400.00 2 Accounts Receivable 36,500.00 3 Supplies 7,300.00 4 Prepaid Insurance 1,800.00 5 Equipment 196,200.00 6 Notes Payable 97,400.00 7 Accounts Payable 26,200.00 8 Common Stock 35,000.00 9 Retained Earnings 95,750.00 10 Dividends 56,100.00 455.800.00 11 Fees Earned Instructions 8 Common Stock 35,000.00 9 Retained Earnings 95,750.00 10 Dividends 56,100.00 11 Fees Earned 455,800.00 12 Wages Expense 269,200.00 13 Rent Expense 64,900.00 14 Advertising Expense 26,000.00 15 Miscellaneous Expense 5,100.00 16 Totals 680,500.00 710,150.00 The debit and credit totals are not equal as a result of the following errors: A. The cash entered on the trial balance was understated by $6,000. B. A cash receipt of $5,400 was posted as a debit to Cash of $6,300. C. A debit of $10,800 to Accounts Receivable was not posted. D. A return of $149 of defective supplies was erroneously posted as a $1,490 credit to Supplies. E. An insurance policy acquired at a cost of $1,400 was posted as a credit to Prepaid Insurance. F. The balance of Notes Payable was understated by $19,400. G. A credit of $4,700 in Accounts Payable was overlooked when determining the balance of the account. H. A debit of $6,800 for dividends was posted as a credit to Retained Earnings. 1. The balance of $69,400 in Rent Expense was entered as $64,900 in the trial balance. J. Gas, Electricity, and Water Expense, with a balance of $15,609, was omitted from the trial balance. Required: 1. Prepare a corrected unadjusted trial balance as of May 31, 2018. 2. Does the fact that the unadjusted trial balance in (1) is balanced mean that there are no errors in the accounts? Unadjusted Trial Balance 1 Cash ACCOUNT TITLE DEBIT CREDIT 2 Accounts Receivable 3 Supplies 4 Prepaid Insurance 5 Equipment 6 Notes Payable 7 Accounts Payable 8 Common Stock 9 Retained Earnings 10 Dividends 11 Fees Earned 12 Wages Expense 13 Rent Expense 14 Advertising Expense 15 Gas, Electricity, and Water Expense 16 Miscellaneous Expense 17 Totals