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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, 2020, trial balance. Wilm's
Wilm Schmidt, the owner of Wilm's Window Washing Services, had difficulty getting the debits to equal credits on the January 31, 2020, trial balance. Wilm's Window Washing Services Trial Balance January 31, 2020 Debit Credit Cash $ 12,400 Accounts receivable 10,040 Prepaid insurance 3,200 Equipment 32,000 Accounts payable $ 10,200 Wilm Schmidt, capital 53,000 Wilm Schmidt, withdrawals 9,760 Service revenues 61,600 Salaries expense 32,800 Insurance expense 6,000 Maintenance expense 13,800 Utilities expense 6,000 Total $126,000 $124,800 The following errors were discovered: a. Schmidt did not post a $4,800 purchase of equipment on credit. b. In posting a $1,800 collection from a credit customer, Schmidt debited Accounts Receivable and credited Cash. c. In posting a cash receipt, Schmidt correctly debited Cash for $2,650 but incorrectly credited Accounts Receivable for $5,250. d. In posting a $3,800 payment on account, Schmidt debited Accounts Payable but forgot to post the credit to Cash. e. In posting the entry for services of $2,600 performed for a customer on credit, Schmidt debited Accounts Receivable but credited Maintenance Expense. Required: Prepare a corrected trial balance. WILM'S WINDOW WASHING SERVICES Trial Balance January 31, 2020 Account Titles Debit Credit
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