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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.
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 $4,900 purchase of equipment on credit. b. In posting a $1,850 collection from a credit customer, Schmidt debited Accounts Receivable and credited Cash. c. In posting a cash receipt, Schmidt correctly debited Cash for $2,660 but incorrectly credited Accounts Receivable for $6,260. d. In posting a \$4,900 payment on account, Schmidt debited Accounts Payable but forgot to post the credit to Cash. e. In posting the entry for services of $2,700 performed for a customer on credit, Schmidt debited Accounts Receivable but credited Maintenance Expense
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