Question
toring Enabled: Lab 1-15% of Final Grade i Wilm Schmidt, the owner of Wilm's Window Washing Services, had difficulty getting the debits to equal credits
toring Enabled: Lab 1-15% of Final Grade i Wilm Schmidt, the owner of Wilm's Window Washing Services, had difficulty getting the debits to equal credits on the January 31, 2023, trial balance. 2 S Book Wilm's Window Washing Services Trial Balance January 31, 2023 Cash Accounts receivable Prepaid insurance Equipment Accounts payable Wilm Schmidt, capital Wilm Schmidt, withdrawals Service revenues Salaries expense Insurance expense Maintenance expense Utilities expense Total Debit $ 13,600 11, 240 4,400 44,000 Credit $ 13,400 65,000 67,700 Required: Prepare a corrected trial balance.
Saved 10,960 34,000 7,200 15,000 7,200 $147,600 $146,100 The following errors were discovered: a. Schmidt did not post a $3,900 purchase of equipment on credit. b. In posting a $2,400 collection from a credit customer, Schmidt debited Accounts Receivable and credited Cash. c. In posting a cash receipt, Schmidt correctly debited Cash for $2,590 but incorrectly credited Accounts Receivable for $9,240. d. In posting a $8,150 payment on account, Schmidt debited Accounts Payable but forgot to post the credit to Cash. e. In posting the entry for services of $3,800 performed for a customer on credit, Schmidt debited Accounts Receivable but credited Maintenance Expense.
abled: Lab 115% of Final Grade Wilm Schmidt, the owner of Wilm's Window Washing Services, had difficulty getting the debits to equal credits on the January 31 , 2023 , trial balance. The following errors were discovered: a. Schmidt did not post a $3,900 purchase of equipment on credit. b. In posting a $2,400 collection from a credit customer, Schmidt debited Accounts Receivable and credited Cash. c. In posting a cash receipt, Schmidt correctly debited Cash for $2,590 but incorrectly credited Accounts Receivable for $9,240. d. In posting a $8,150 payment on account, Schmidt debited Accounts Payable but forgot to post the credit to Cash. e. In posting the entry for services of $3,800 performed for a customer on credit, Schmidt debited Accounts Receivable but credited Maintenance ExpenseStep by Step Solution
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