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The trial balance doesn't balance. Prepare the correct trial balance. Each of the accounts has a normal balance per the general ledger. An examination of
The trial balance doesn't balance. Prepare the correct trial balance.
Each of the accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: Cash received from a customer on account was debited for $760, and Accounts Receivable was credited for the same account. The actual collection was for $706. The purchase of a printer on account for $340 was recorded as a debit to Supplies for $340 and a credit to Accounts Payable for $340. Services were performed on account on account for a client for $900. Accounts Receivable was debited for $90 and Service Receive was credited for $900. A debit posting to Salaries and Wages Expense of $770 was omitted. A payment on account for $206 was credited to Cash for $206 and credited to Accounted Payable for $260. Payment of a $600 cash dividend to Company's stockholders was debited to Salaries and Wages Expense for $600 and credited to Cash for $600 Step by Step Solution
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