Question: Exercise E Damon Davis was preparing the work sheet for Drano Plumbing Company. He calculated the net income to be USD 50,000. When he totaled

Exercise E Damon Davis was preparing the work sheet for Drano Plumbing Company. He calculated the net income to be USD 50,000. When he totaled the Balance Sheet columns, the column totals were debit, USD 400,000; and credit, USD 300,000. What was the probable cause of this difference? If this was not the cause, what should he do to find the error?

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