Resolving Errors and Correcting a Trial Balance The following trial balance provided by Specialty Stores Inc. is not in balance Account Debit Credit Cash $163.600 5 Accounts receivable 128.200 Allowance for doubtful accounts 4.600 Inventory 177,600 Prepaid insurance 1.600 Land 20,000 Equipment 400.000 Accumulated depreciation 120.000 Accounts payable 73.000 Interest payable 1,000 Deferred revenue 3.600 Notes payable 200.000 Common Stock 280,000 Retained earnings 56,000 Sales 544,200 Salaries experte 150,000 Operating expense 221.000 interest expense 4.800 Total 51,280,400 51.278.800 Upon a detailed examination of the accounting records, the following items were discovered 1. A $2,400 posting (debit) to Inventory was omitted, 2. A $1.000 payment on account was debited to Operating Expense and credited to Cash 3. A sale of 56 400 on account supported by an invoice) was recorded as a debit to Accounts Receivable for $4,600 and a credit to Sales for $4,600. 4. The total amount of interest expense in the ledger is $8,000, instead of $4,800 incorrectly included in the trial balance 5. Depreciation expense for the period of $40,000 was debited to Accumulated Depreciation and credited to Operating Expense. Required Prepare a corrected unadjusted trial balance, Note: Do not use a negative sigo in your answers. Operating expense 221.000 Interest expense 4.800 Totals $1,280,400 51.278,800 Upon a detailed examination of the accounting records, the following items were discovered. 1. A $2,400 posting (debit) to Inventory was omitted. 2. A $1,000 payment on account was debited to Operating Expense and credited to Cash. 3. A sale of $6,400 on account (supported by an invoice) was recorded as a debit to Accounts Receivable for $4,600 and a credit to Sales for $4,600. 4. The total amount of interest expense in the ledger is $8,000, instead of $4,800 incorrectly included in the trial balance. 5. Depreciation expense for the period of $40,000 was debited to Accumulated Depreciation and credited to Operating Expense. Required Prepare a corrected unadjusted trial balance. Note: Do not use a negative sigo in your answers. Account Debits Credits Cash 5 OXS 0 Accounts receivable 0. Allowance for doubtful accounts Inventory Prepaid insurance Land Equipment Accumulated depreciation Accounts payable Interest payable Deferred revenue Notes payable Common Stock Retained earnings Sales Salaries expense 0 X Operating expense 0 X Interest expense Totals 5 OXS OX 0 OX OX 0 OX 0 0 OX 0X 0 0 OX O 0X 0 OX 0 OX 0 07 OX 0 x 0 0 0 X 0 X OV 0