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The following trial balance of Geronimo AG does not balance. Your review of the ledger reveals the following. (a) Each account had a normal balance.
The following trial balance of Geronimo AG does not balance. Your review of the ledger reveals the following. (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated 1,000. (c) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are 2,750 and 6,690, respectively. (d) A debit posting to Advertising Expense of 300 was omitted. (e) A 3,200 cash drawing by the owner was debited to Geronimo, Capital, and credited to Cash. Instructions Prepare a correct trial balance
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