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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. Wilm's Window Washing Services Cash Trial Balance January 31, 2023 Debit $ 13,300 Credit 10,940 Accounts receivable Prepaid insurance Equipment 4,100 41,000 Accounts payable $ 11,600 Wilm Schmidt, capital 62,000 es Wilm Schmidt, withdrawals 10,660 Service revenues 67,400 Salaries expense 33,700 Insurance expense Maintenance expense Utilities expense Total 6,900 14,700 6,900 $142,200 $141,000 The following errors were discovered: a. Schmidt did not post a $3,600 purchase of equipment on credit. b. In posting a $2,250 collection from a credit customer, Schmidt debited Accounts Receivable and credited Cash. c. In posting a cash receipt, Schmidt correctly debited Cash for $2,560 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 $3,500 performed for a customer on credit, Schmidt debited Accounts Receivable but credited Maintenance Expense. Required: Prepare a corrected trial balance.
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