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The bookkeeper for J.J. Pina Colada Equipment Repair made a number of errors in journalizing and posting, as the following describes. For each error:
The bookkeeper for J.J. Pina Colada Equipment Repair made a number of errors in journalizing and posting, as the following describes. For each error: Indicate whether the trial balance will balance. (a) (b) If the trial balance will not balance, indicate the amount of the difference. (c) Indicate the trial balance column that will have the larger total. (c) (a) No. Error In Balance (b) Difference Larger column 1 A credit posting of $635 to Accounts Receivable was omitted. 2. 3. A debit posting of $890 for Prepaid Insurance was debited to Insurance Expense. A collection from a customer of $270 in payment of its account owed was journalized and posted as a debit to Cash $270 and a credit to Service Revenue $270. A credit posting of $705 to Property Taxes Payable was made twice A cash purchase of supplies for $650 was journalized and posted as a debit to Supplies $65 and a credit to Cash $65
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