QUESTION # 1 Credit Debit $32,400 $15,125 The trial balance of Pioneer Trading shown below does not balance. POINEER TRADING Trial Balance September 30, 2019 Account # Account Title 101 Cash 111 Accounts Receivable 121 Prepaid Insurance 141 Equipment 211 Accounts Payable 221 Property Taxes Payable 301 Shahid, Capital 401 Service Revenue 501 Salaries Expense 511 Advertising Expense 521 Property Tax Expense 3,900 44,200 24,925 3,080 64,750 36,795 23,175 6,050 4,425 $147,975 $110,850 Your review of the ledger reveals that each account has a normal balance. You also discover the following errors: $5,500 and 1. The totals of the debit sides of Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated by $550 2. Transposition errors were made in Accounts Receivable and Service Revenue. Based on posting made, the correct balances were $14,135 and $38,280 respectively. 3. A debit posting to Salaries Expense of $1,100 was omitted. 4. Drawing of $5,500 by the owner was debited to Shahid, Capital for credited to Cash for $5,500 5. Supplies of $2,860 purchased on account were debited to Equipment for credited to Cash for $2,860 6. A cash payment of $2,475 for advertising was debited to Advertising Expense for and credited to Cash for $248 7. A collection from a customer for $1,155 was debited to Cash for $1,155 Accounts Payable for $1,155 $2,860 and $248 and and credited to Instructions: 1. Prepare a corrected trial balance after completeing part (2) and (3). (Note that the chart of accounts Includes: Shahid's drawing and Supplies accounts.) 19% remaining 2. Prepare Suspense account in T-account format. Your battery is low (19%). If you need to continue 3. Prepare correcting entries on page J-99 of General Journal for errors numbered 4 to 7. your computer, either plug in your computer, or down and then change the battery