Question
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
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 Trial Balance January 31, 2023 Cash Accounts receivable Prepaid insurance Equipment Accounts payable Wilm Schmidt, capital Wilm Schmidt, withdrawals Service revenues Salaries expense Insurance expense Maintenance expense Utilities expense Total Debit $ 13,000 10,640 3,800 38,000 Credit $ 9,800 59,000 10,360 33,400 6,600 14,400 6,600 $136,800 $135,900 67,100 The following errors were discovered: a. Schmidt did not post a $3,300 purchase of equipment on credit. b. In posting a $2,100 collection from a credit customer, Schmidt debited Accounts Receivable and credited Cash. c. In posting a cash receipt, Schmidt correctly debited Cash for $2,680 but incorrectly credited Accounts Receivable for $8,230. d. In posting a $6,450 payment on account, Schmidt debited Accounts Payable but forgot to post the credit to Cash. e. In posting the entry for services of $3,200 performed for a customer on credit, Schmidt debited Accounts Receivable but credited Maintenance Expense.
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