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provide solution 12. The credit total of a trial balance exceeds the debit total by P350. In investigating the cause of the difference, the following
provide solution 12. The credit total of a trial balance exceeds the debit total by P350. In investigating the cause of the difference, the following errors were determined: a credit to accounts receivable of P550 was not posted; a P5,000 debit to be made to the Purchases account was debited to Accounts payable instead; a P3,000 credit to be made to the Sales account was credited to the Accounts receivable account instead; the Interest payable account balance of P4,500 was included in the trial balance as P5,400. The correct balance of the trial balance is ANSWER: 27,450
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