The Lexington Group has the following wood usted trial balance as of May 31, 2018 1. Prepare a corrected unadjusted trial balance as of May 31 2018 The Lexington Group The Lexington Group UNADJUSTED TRIAL BALANCE UNADJUSTED TRIAL BALANCE May 31, 2018 May 31, 2018 ACCOUNT TITLE DEBIT CREDIT ACCOUNT TITLE DEBIT CREDIT 1 Cash 16,800.00 Cash Accounts Receivable 56,300.00 : Accounts Receivable Supplies 7,100.00 3 Supplies 4 Prepaid Insurance 2,500.00 + Prepaid Insurance 5 Equipment 196,400.00 Notes Payable 97,500.00 5 Equipment 7 Accounts Payable 26,400.00 Notes Payable Common Stock 35,000.00 7 Accounts Payable Retained Earnings 95.100.00 Common Stock 30 Dividends 55.900.00 1. Fees Eamed 455,400.00 Retained Earnings 12 Wages Expense 269.800.00 10 Dividends 11 Rent Expense 52.400.00 11 Fees Eamed Advertising Expense 25,500.00 12 Wages Expense 15 Miscellaneous Expense 4,500.00 36 Toll 666,800.00 709,400.00 :: Rent Expense 14 Advertising Expense 15 Gas, Electricity and Water Expense The debt and caedit totals are not equal as a result of the following errors 16 Miscellaneous Expense A The cashmered on the villance we understated by $5.100 17 Totals B A cash receipt of $6.700 was posted as a debit to Cash of ST 600 C. A debit of $11,600 to Accounts Receivable was not posted D. A reum of S148 of defective supplies was enroneously posted as a $1,480 credit to Supplies 2. Does the fact that the unadjusted trial balance in (1) is balanced mean that there are no errors in the accounts? E An insurance policy acquired at a cost of $1.200 was posted as a credit to Prepaid Insurance F. The balance of Notes Payable was understated by $20,300 G. A credit of $4,800 in Accounts Payable was overlooked when determining the balance of the account H. A debit of $6,600 for dividends was posted as a credit to Retained Earnings. . 1. The balance of $54,200 in Rent Expense was entered as $52.400 in the trial balance $ J. Gas, Electricity, and Water Expense, with a balance of $33,168, was omitted from the trial balance Required 1. Prepare a corrected unadjusted trial balance as of May 31, 2018 , 2. Does the fact that the unadjusted trial balance in (1) is balanced mean that there are no errors in the accounts