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