Question 1 The following trial balance of Monty Corporation does not balance MONTY CORPORATION TRIAL BALANCE JUNE 30, 2017 Debit $6,978 7,880 3,745 7,600 Credit Cash Accounts Receivable Supplies Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Office Expense $8,396 11,000 4,300 4,182 4,100 $30,303 $27,878 An examination of the ledger shows these errors 1. Cash received from a customer on account was recorded (both debit and credit) as $1,480 instead of $1,840 2. The purchase on account of a computer costing $3,000 was recorded as a debit to Office Expense and a credit to Accounts Payable 3. Services were performed on account for a client, $2,450, for which Accounts Receivable was debited $2,450 and Service Revenue was credited $245 4. A payment of $75 for telephone charges was entered as a debit to Office Expense and a debit to Cash 5. The Service Revenue account was totaled at $5,500 instead of $5,570 From this information prepare a corrected trial balance MONTY CORPORATION TRIAL BALANCE Debit Credit