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The following trial balance of Crane Co. does not balance. CRANE CO. TRIAL BALANCE JUNE 30, 2020 Debit Credit Cash $2,971 Accounts Receivable $3,120 Supplies

The following trial balance of Crane Co. does not balance.

CRANE CO. TRIAL BALANCE JUNE 30, 2020

Debit

Credit

Cash

$2,971

Accounts Receivable

$3,120

Supplies

901

Equipment

3,901

Accounts Payable

2,767

Unearned Service Revenue

1,301

Common Stock

6,101

Retained Earnings

3,101

Service Revenue

2,481

Salaries and Wages Expense

3,501

Office Expense

1,041

Totals

$13,765

$17,421

Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors.

1. Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750.
2. The purchase of a computer printer on account for $601 was recorded as a debit to Supplies for $601 and a credit to Accounts Payable for $601.
3. Services were performed on account for a client for $890. Accounts Receivable was debited for $890 and Service Revenue was credited for $89.
4. A payment of $60 for telephone charges was recorded as a debit to Office Expense for $60 and a debit to Cash for $60.
5. When the Unearned Service Revenue account was reviewed, it was found that service revenue amounting to $426 was performed prior to June 30 (related to Unearned Service Revenue).
6. A debit posting to Salaries and Wages Expense of $771 was omitted.
7. A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260.
8. A dividend of $676 was debited to Salaries and Wages Expense for $676 and credited to Cash for $676.

Prepare a correct trial balance.

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