The following trial balance of Geronimo AG does not balance. Your review of the ledger reveals the following. (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated ‚¬1,000. (c) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are ‚¬2,750 and ‚¬6,690, respectively. (d) A debit posting to Advertising Expense of ‚¬300 was omitted. (e) A ‚¬3,200 cash drawing by the owner was debited to Geronimo, Capital, and credited to Cash.

Instructions
Prepare a correct trial balance.

Transcribed Image Text:

Geronimo Company Trial Balance April 30, 2019 Debit Credit € 2,100 Cash Accounts Receivable 2,570 Prepaid Insurance 700 € 8,000 Equipment Accounts Payable 4,500 Property Taxes Payable 560 Geronimo, Capital 11,200 Service Revenue 6,960 Salaries and Wages Expense 4,200 Advertising Expense 1,100 Property Tax Expense 800 €18,190 €24,500