Question 73 (1 point) In a Trial Balance, if the sum of the debit column equals the sum of the credit column, it indicates that all the accounts in the trial balance reflect their correct balances. the mathematical equality of the accounting equation. that the firm has broken-even. that no errors can be discovered. that no errors have been made. Question 74 (1 point) A debit balance in the Allowance for Doubtful Accounts A) cannot occur if the percentage of receivables method of estimating bad debts is used. B) is the normal balance for that account. C) indicates that actual bad debt write-offs for the period have been less than what was estimated. D) indicates that actual bad debt write-offs for the period have been more than what was estimated. Question 75 (1 point) A new accountant working for Astro Limited records $650 depreciation expense on store equipment at year-end as follows: 650 Depreciation Expense Cash 650 The effect of this entry is to understate the carrying amount of the depreciable assets at year-end. overstate the carrying amount of the depreciable assets at year-end. adjust the accounts correctly at year-end. allocate the purchase cost and cash used (related to the asset) into the correct accounting period. understate expenses on the statement of income