The following corrections and or adjustments need to be made for errors in the trial balance:

A number of account balances have been placed on the wrong side of the trial balance

An amount of $7,000 was omitted to be posted to the credit side of the Bank account

An amount of $6,000 was wrongly posted to the credit side instead of the debit side of the Inventory account

HI THERE, I HAVE MADE CORRECTIONS FOR THE FIRST POINT BUT I AM UNSURE ABOUT THE SECOND AND THIRD, do I have to post the omitted $7000 to the credit side, If so how do I show that in the trial balance? I thought that bank was an asset and therefore only shown in the trial balance as a debit account? What account should I post it in if so ? Or do I post it to the debit side? I have included the trial balance below.. am really hoping i can have an explanation to both last points as i cannot seem to find in my resources online any working out or explanations .. please help

Trial Balance

Debit Credit

Bank loan 180,000

Office Equipment 16,000

Premises 280,000

Accounts Receivable 15,500

Accounts Payable 9,500

Bank 35,600

Insurance 2,500

Wages 65,500

Sales 120,000

Cost of goods sold 35,000

Bad debts expense 3,000

Rent expense 52,000

Inventory 24,000

Capital 224,600