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The following trial balance of Josh Maddy Tutoring Service as of May 31, 2024, does not balance. (Click the icon to view the trial balance.)
The following trial balance of Josh Maddy Tutoring Service as of May 31, 2024, does not balance. (Click the icon to view the trial balance.) Click the icon to view the investigation results.) Prepare the corrected trial balance as of May312024complete with a heading: journal entries are not required. \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Josh Maddy Tutoring Service } \\ \hline \multicolumn{4}{|c|}{ Trial Balance } \\ \hline \multicolumn{4}{|c|}{ May 31, 2024} \\ \hline \multirow[b]{2}{*}{ Account Title } & \multicolumn{3}{|c|}{ Balance } \\ \hline & \multicolumn{2}{|c|}{ Debit } & \multirow[t]{2}{*}{ Credit } \\ \hline Cash & $ & 3,000 & \\ \hline Accounts Receivable & & 1,800 & \\ \hline Office Supplies & & 800 & \\ \hline Computer Equipment & & 15,900 & \\ \hline Accounts Payable & . & $ & 11,100 \\ \hline Utilities Payable & & & 300 \\ \hline Maddy, Capital & & & 11,800 \\ \hline Maddy, Withdrawals & & 10,500 & \\ \hline Service Revenue & & & 9,800 \\ \hline Salaries Expense & & 1,700 & \\ \hline Rent Expense & & 600 & \\ \hline Utilities Expense & & 700 & \\ \hline Total & $ & 35,000$ & 33,000 \\ \hline \end{tabular} Investigation of the accounting records reveals that the bookkeeper: a. Recorded a $700 cash revenue transaction by debiting Accounts Receivable. The credit entry was correct. b. Posted a $2,000 credit to Accounts Payable as $200. c. Did not record Utilities Expense or the related Utilities Payable in the amount of $300. d. Understated Maddy, Capital by $200
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