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. The following account balances are taken from the records of Harry P. Inc. at Dec 31, 2019 after its first year of operation: Accounts
. The following account balances are taken from the records of Harry P. Inc. at Dec 31, 2019 after its first year of operation: Accounts Payable $9,000 Insurance Expense $ 500 Accounts Receivable 6,000 Repair Revenue 19.000 Advertising Expense 2.200 Supplies Expense 800 Bank Loan 5.000 Telephone Expense 250 Cash 1,000 Truck 9,000 Share Capital 2.000 Truck Operation Expense 1.250 Commissions Expense 4,500 Equipment 7,000 Wages Expense 4,000 Wages Payable 1.500 . . . Required:. Prepare a Trial Balance at Dec 31, 2019. Correcting Errors in Journal Entries (you can either point out the error, or re-write the journal) 1. Rent of $10,000 for the next six months was paid in advance.. Debit Credit Rent expense 10,000 Cash 10,000 2. Completed service work for a Briosh customer, Invoiced $5,000 GBP (Bridsh pounds Sterling funds). The Canadian currency equivalent is $8,400 CAD. (Hint: Recall the monetary unit principle.) Debit Credit Accounts receivable.. 5.000 Revenue 5.000 3. Paid employee salaries in the amount of $2.200 Debit Credit 2.200 Cash Salaries expense 2.200
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