Requirement #2. 1&2

JMC is a heating and air conditioning service business. On December 31, 2017, after its first month of business, JMC had the following balances in its accounts, listed alphabetically. 4, 10 22, 00 1, 60 17, 00 84,800 Accounts receivable Advertising expense Cash Capital Withdrawals Equipment Land Note payable Salary expense 1, 800 1, 800 67, 000 58, 000 1. 80 Service revenue 62, 00 2, 90 4, 20 Utilities expense Requirements 1. Identify the account type (asset, liabilities, owner's equity, revenues or expenses) for each of the above accounts and the normal balance (i.e debit or credit) in each case. 2. Having reviewed the account balances the following errors were detected and now require journal entries to adjust same 1. A cash payment for supplies amounting to $29,000 was erroneously recorded by the Accounts Payable Clerk as $2,900 A receipt from a customer who paid on account was recorded as $200 instead of $2,000 2. Having made the journal entries to adjust the errors identified above, prepare the trial balance and determine the capital figure based on the info presented 3