Wilm Schmidt, the owner of Wilm's Window Washing Services, had difficulty getting the debits to equal...

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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 Window Washing Services Trial Balance January 31, 2020 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 $ 12,000 9,640 2,800 28,000 Credit $7,800 49,000 60,800. 9,360 32,400 5,600 13,400 5,600 $118,800 $117,600 The following errors were discovered: a. Schmidt did not post a $4,400 purchase of equipment on credit. b. In posting a $1,600 collection from a credit customer, Schmidt debited Accounts Receivable and credited Cash. c. In posting a cash receipt, Schmidt correctly debited Cash for $2,360 but incorrectly credited Accounts Receivable for $6,360. d. In posting a $5,200 payment on account, Schmidt debited Accounts Payable but forgot to post the credit to Cash. e. In posting the entry for services of $4,000 performed for a customer on credit, Schmidt debited Accounts Receivable but credited Maintenance Expense. Required: Prepare a corrected trial balance. Totals WILM'S WINDOW WASHING SERVICES Trial Balance January 31, 2020 Account Titles Debit Credit 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 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 $ 12,000 9,640 2,800 28,000 Credit $7,800 49,000 60,800. 9,360 32,400 5,600 13,400 5,600 $118,800 $117,600 The following errors were discovered: a. Schmidt did not post a $4,400 purchase of equipment on credit. b. In posting a $1,600 collection from a credit customer, Schmidt debited Accounts Receivable and credited Cash. c. In posting a cash receipt, Schmidt correctly debited Cash for $2,360 but incorrectly credited Accounts Receivable for $6,360. d. In posting a $5,200 payment on account, Schmidt debited Accounts Payable but forgot to post the credit to Cash. e. In posting the entry for services of $4,000 performed for a customer on credit, Schmidt debited Accounts Receivable but credited Maintenance Expense. Required: Prepare a corrected trial balance. Totals WILM'S WINDOW WASHING SERVICES Trial Balance January 31, 2020 Account Titles Debit Credit

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Journal Entries Date Account Title Debit Credit a Equipment 4400 Account Pay... View the full answer