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Problem 3-7A This trial balance of Ivanhoe Company does not balance. IVANHOE COMPANY Trial Balance June 30, 2017 Debit Credit $4,790 4,890 2,650 4,700 Accounts
Problem 3-7A This trial balance of Ivanhoe Company does not balance. IVANHOE COMPANY Trial Balance June 30, 2017 Debit Credit $4,790 4,890 2,650 4,700 Accounts Receivable Supplies Equipment Accounts Payable Unearned Service Revenue Common Stock Dividends Service Revenue Salaries and Wages Expense Utilities Expense 5,386 3,050 10,700 800 5,180 3,580 920 O $26,056 $20,590 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 on account was debited for $705 The purchase of a printer on account for $340 was recorded as a debit to Supplies for $340 and a credit to Accounts Payable for $340 Services were performed on account for a client for $900. Accounts Receivable was debited for $90 and Service Revenue was credited for $900. A debit posting to Salaries and Wages Expense of $710 was omitted A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260 Payment of a $600 cash dividend to Ivanhoe Company's stockholders was debited to Salaries and Wages Expense for $600 and credited to Cash for $600 750, and Accounts Receivable was credited for the same amount. The actual collection was for 2. 3. 4. 5. 6. Prepare the correct trial balance. (Hint: All accounts have normal balances.) IVANHOE COMPANY Trial Balance Debit Credit Click if you would like to Show Work for this question: Open Show Work
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