The Colby Group Unadjusted Trial Balance August 31, 2018 Debit Balances Credit Balances Cash 17,300 37,000 7,400 1,900 196,000 Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Terry Colby, Capital Terry Colby, Drawing Fees Eamed Wages Expense Rent Expense Advertising Expense Miscellaneous Expense 97,600 26,000 129,150 56,000 454,450 270,000 51,800 25,200 5,100 667,700 707,200 eBook 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 $6,000. b. A cash receipt of $5,600 was posted as a debit to Cash of $6,500. c. A debit of $11,000 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 $1,200 was posted as a credit to Prepaid Insurance. f. The balance of Notes Payable was understated by $20,000. 9. A credit of $4,800 in Accounts Payable was overlooked when determining the balance of the account. h. A debit of $7,000 for a withdrawal by the owner was posted as a credit to Terry Colby, Capital. 1. The balance of $58,100 in Rent Expense was entered as $51,800 in the trial balance. 3. Gas, Electricity, and Water Expense, with a balance of $24,150, was omitted from the trial balance. Required: 1. Prepare a corrected unadjusted trial balance as of August 31, 20Y8. If an amount box does not require an entry, leave it blank. The Colby Group Unadjusted Trial Balance August 31, 2048 Debit Credit Balances Balances Cash 18,100 X Accounts Receivable 37,000 x Supplies 7.400 X Prepaid Insurance 1,900 X Equipment 196,000 | V Notes Payable 97,600 X Accounts Payable lll 26,000 X Terry Colby, Capital 129,150 X Terry Colby, Drawing 56,000 X Fees Earned 454,450 Wages Expense 270,000 Rent Expense 51,800 X Advertising Expense 25,200 7 Gas, Electricity, and Water Expense 24,150 Miscellaneous Expense 5,100 Feedback