The following post-closing trial balance was prepared for Sepia Studios, Inc., but some balances were entered in the wrong column. Prepare a corrected post-closing trial balance. Assume all accounts have normal balances and the amounts are correct.

Transcribed Image Text:

Sepia Studios, Ino. Post-Closing Trial Balance January 31, 2016 ACCOUNT DEBIT CREDIT $ 8,700 Cash Accounts Receivable 12,200 $ 1,700 50,000 Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable 5,000 7,300 1,200 Unearned Service Revenue 3,000 Common Stock 30,000 Retained Earnings 26,100 $ 82,900 Total $62,300