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Prepare a corrected trial balance: DR CR Cash 40,000 Accounts receivable 80,000 Inventory 120,000 Prepaid rent 15,000 Equipment 340,000 Accumulated depreciation 200,000 Accounts payable 70,000
Prepare a corrected trial balance: DR CR Cash 40,000 Accounts receivable 80,000 Inventory 120,000 Prepaid rent 15,000 Equipment 340,000 Accumulated depreciation 200,000 Accounts payable 70,000 Salaries payable 20,000 Note payable 200,000 Common Stock 20,000 Retained earnings 50,000 Commission revenue 180,000 Facility expense 50,000 Wage expense 60,000 Depreciation expense 20,000 Professional services expense 15,000 785,000 695,000
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