Update your trial balance with the following accounts and balances and then answer the questions that follow. Cash Accounts payable Common stock Rent expense Salaries expense Prepaid rent Supplies Total Debits 137,000 47,500 136,400 32,800 119,600 35,000 29,600 Total Credits Salaries payable Service revenue Accounts receivable. Required: 1. What are the total debits and credits on your revised trial balance? Advertising expense Retained earnings Dividends Notes payable 6,600 233,700 142,000 48,400 90,200 8,200 38,200 2. Assuming the Retained Earnings balance was entered on the wrong side of the trial balance, what would the total debits and credits be? Total Debits Total Credits 3. If a trial balance is in balance, one can assume that all accounting transactions have been recorded for the period. O True, if all transactions are recorded then the trial balance will be in balance. O False, a trial balance reflects that every recorded transaction has equal debits equal credits, not that the entries are complete or correct.