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.

The following errors were discovered:

a. Schmidt did not post a $4,000 purchase of equipment on credit.

b. In posting a $1,400 collection from a credit customer, Schmidt debited Accounts Receivable and credited Cash.

c. In posting a cash receipt, Schmidt correctly debited Cash for $2,660 but incorrectly credited Accounts Receivable for $6,260.

d. In posting a $4,400 payment on account, Schmidt debited Accounts Payable but forgot to post the credit to Cash.

e. In posting the entry for services of $3,600 performed for a customer on credit, Schmidt debited Accounts Receivable but credited Maintenance Expense.

Required

Prepare a corrected trial balance.

Transcribed Image Text:

Wilm's Window Washing Services Trial Balance January 31, 2020 Debit Credit $ 11,600 Cash. Accounts receivable 9,240 Prepaid insurance. 2,400 Equipment. 24,000 Accounts payable. $ 5,400 Wilm Schmidt, capital. 45,000 Wilm Schmidt, withdrawals. 8,960 Service revenues. 60,400 Salaries expense. 32,000 Insurance expense. 5,200 Maintenance expense. 13,000 Utilities expense. 5,200 Totals $111,600 $110,800