The Colby Group has the following unadjusted trial balance as of August 31, 2016: Colby Group UNADJUSTED TRIAL BALANCE August 31, 2016 ACCOUNT TITLE DEBIT CREDIT 1 Cash 17,600.00 2 Accounts Receivable 36,700.00 3 Supplies 7,400.00 4 Prepaid Insurance 2,500.00 5 Equipment 196,000.00 6 Notes Payable 97,900.00 7 Accounts Payable 24,800.00 8 Terry Colby, Capital 129,000.00 9 Terry Colby, Drawing 55,400.00 10 Fees Earned 454,050.00 11 Wages Expense 269,600.00 12 Rent Expense 51,600.00 13 Advertising Expense 24,600.00 14 Miscellaneous Expense 4,800.00 15 Totals 666,200.00 705,750.00 The debit and credit totals are not equal as a result of the following errors: A. The cash entered on the trial balance was understated by $5,400. B. A cash receipt of $6,700 was posted as a debit to Cash of $7,600. C. A debit of $11,300 to Accounts Receivable was not posted. D. A return of $150 of defective supplies was erroneously posted as a $1,500 credit to Supplies. E. An insurance policy acquired at a cost of $1,400 was posted as a credit to Prepaid Insurance. F. The balance of Notes Payable was understated by $20,100. G. A credit of $4,800 in Accounts Payable was overlooked when determining the balance of the account. H. A debit of $6,600 for a withdrawal by the owner was posted as a credit to Terry Colby, Capital. I. The balance of $56,100 in Rent Expense was entered as $51,600 in the trial balance. J. Gas, Electricity, and Water Expense, with a balance of $26,800, was omitted from the trial balance. Required: 1. Prepare a corrected unadjusted trial balance as of August 31, 2016. 2. Does the fact that the unadjusted trial balance in (1) is balanced mean that there are no errors in the accounts?