PE 3-9 Effect of errors on adjusted trial balance Consider each of the following errors individually, and indicate whether the error would cause the adjusted trial balance totals to be unequal. If the error would cause the adjusted trial balance totals to be unequal, indicate whether the debit or credit total is higher and by what amount. a. The adjustment for accrued wages of $4,150 was journalized as a debit to Wages Expense for $4,150 and a credit to Accounts Payable for $4,150. b. The entry for $1,290 of supplies used during the period was journalized as a debit to Supplies Expense of $1.290 and a credit to Supplies of $1,920, EE 3.9 p. 126 EXERCISES EX 3-1 Classifying types of adjustments Classify the following items as (a) prepaid expense, (b) unearned revenue, (e) accrued revenue, or (d) accrued expense. 1. A two-year premium paid on a fire insurance policy. 2. Fees earned but not yet received. 3. Fees received but not yet earned. 4. Salary owed but not yet paid. 5. Subscriptions received in advance by a magazine publisher 6. Supplies on hand. NEL A Aa 10