Question: Assume that there is only one transposition error in the following trial balance. Identify the incorrect amount, and correct the trial balance. FISHER SERVICES Trial

Assume that there is only one transposition error in the following trial balance. Identify the incorrect amount, and correct the trial balance.

FISHER SERVICES Trial Balance December 31, 2014 $ 2,500 Cash Accounts receivable 4,150 Supplies Accounts payable R. Fisher, capital R. Fisher, withdrawals 375 $3,850 1,025 500 5,000 Service fees earned 475 Insurance expense Salaries expense Utilities expense 3,100 575 Total $11,675 $9,875

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