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Sunland Company Trial balance May 31, 2022 Debit Credit Cash $ 5,270 Accounts Receivable $ 2,740 Prepaid Insurance 840 Equipment 13,420 Accounts Payable 5,920 Unearned
Sunland Company Trial balance May 31, 2022 Debit Credit Cash $ 5,270 Accounts Receivable $ 2,740 Prepaid Insurance 840 Equipment 13,420 Accounts Payable 5,920 Unearned Service Revenue 700 Common Stock 13,120 Service Revenue 8,680 Salaries and Wages Expense 4,340 Advertising Expense 960 Utilities Expense 800 $ 34,050 $ 22,740 Sunland Company Trial balance May 31, 2022 Debit Credit Supplies Expense $ $ Totals $ $ Your review of the ledger reveals that each account has a normal balance. You also discover the following errors. 1. The totals of the debit sides of Prepaid Insurance, Accounts Payable, and Utilities Expense were each understated $ 100. 2. Transposition errors were made in Accounts Receivable and Service Revenue. Based on postings made, the correct balances were $ 2,470 and $ 8,860, respectively. 3. A debit posting to Salaries and Wages Expense of $ 200 was omitted. 4. A$ 1,600 cash dividend was debited to Common Stock for $ 1,600 and credited to Cash for $ 1,600. 5. A $ 540 purchase of supplies on account was debited to Equipment for $ 540 and credited to Cash for $ 540. 6. A cash payment of $ 420 for advertising was debited to Advertising Expense for $ 42 and credited to Cash for $ 42. 7. A collection from a customer for $ 380 was debited to Cash for $ 380 and credited to Accounts Payable for $ 380
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