P2-4B Prepare a correct trial balance The trial balance of Zoop Co. shown below does not balance. ZOOP CO. Trial Balance June 30, 2015 Debit Credit Cash $3,960 Accounts Receivable $2,648 Supplies 800 Equipment 3,000 Accounts Payable 2,666 Unearned Service Revenue 2,200 Common Stock 9,000 Dividends 800 Service Revenue 2,367 Salaries and Wages Expense 3,400 Utilities Expense 910 $13,758 $17,993 Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors. 1. Cash received from a customer in payment of its account was debited for $690, and Accounts Receivable was credited for the same amount. The actual collection was for $960. 2. The purchase of a computer on account for $620 was recorded as a debit to Supplies for $620 and a credit to Accounts Payable for $620. 3. Services were performed on account for a client for $760. Accounts Receivable was debited for $760, and Service Revenue was credited for $76. 4. A debit posting to Salaries and Wages Expense of $700 was omitted. 5. A payment of a balance due for $309 was credited to Cash for $309 and credited to Accounts Payable for $390. 6. The payment of a $600 cash dividend was debited to Salaries and Wages Expense for $600 and credited to Cash for $600. Instructions Prepare a correct trial balance. (Hint: It helps to prepare the correct journal entry for the transaction described and compare it to the mistake made.) ZOOP CO. Trial Balance June 30, 2015 Debit Credit Cash Value Accounts Receivable Value Supplies Value Equipment Value Accounts Payable Value Unearned Service Revenue Value Common Stock Value Dividends Value Service Revenue Value Salaries and Wages Expense Value Utilities Expense Value ? ? After you have completed the requirements of P2-4B, consider this additional question. 1. Assume that cash received from a customer in payment of its account was debited for $690, and Accounts Receivable was credited for the same amount. The actual collection was for $1,690.