The following trial balance was prepared from the ledger accounts of Ricardo Company 7 RICARDO COMPANY Trial Balance April 30, Year 1 Account Titles Debit Credit S 69, 900 30,000 1,800 3, 600 Accounts receivable Supplies Prepaid insurance S 12,000 , 600 100,000 27,510 Accounts payable Common stock Retained earnings Dividends Service revenue Rent expense Salaries expense Operating expense 8,000 60,000 9, 600 31,500 32,400 Totals $185,800 $209,110 When the trial balance failed to balance, the accountant reviewed the records and discovered the following errors 1. The company received $560 as payment for services rendered. The credit to Service Revenue was recorded correctly, but the debit to Cash was recorded as $650 2. A $900 receipt of cash that was received from a customer on accounts receivable was not recorded. 3. A $600 purchase of supplies on account was properly recorded as a debit to the Supplies account. However, the credit to Accounts Payable was not recorded 4. Land valued at $12,000 was contributed to the business in exchange for common stock. The entry to record the transaction was recorded as a $12,000 credit to both the Land account and the Common Stock account. 5. A $500 rent payment was properly recorded as a credit to Cash. However, the Salaries Expense account was incorrectly debited for $500 Requirecd Prepare a corrected trial balance for Ricardo Company AR PAN