Question 5 (20 marks) Bill Bungle formed Bungle Construction, a proprietorship. Bill Bungle attempted to produce a trial balance, and his trial balance did not balance: Bungle Construction Trial Balance September 30, 2019 ACCOUNT DEBIT CREDIT Cash $ 2,400 Accounts Receivable 12,400 850 Supplies Office Furniture 6,100 Land 73,000 $ 6,350 25,000 64,000 I 4,000 Accounts Payable Notes Payable Bill Bungle, Capital Bill Bungle, Withdrawals Consulting Service Revenue Advertising Expense Rent Expense Supplies Expense Salary Expense 15,600 1,000 2,300 2,370 Utilities Expense 2,000 540 $106,960 Total $110.950 Bungle Construction's accountant, Sue Smart, uncovered the following errors: 1. The Cash balance was overstated by $200. 2. The Accounts Receivable balance had a transposition error and should be $14,200. ACCT 121 Accounting A27 3. The cost of the land should have had $2,000 posted for Legal Fees, but the Debit was not posted. 4. A $750 purchase of supplies on account was neither journalized nor posted. 5. A $1,200 credit to Consulting Service Revenue was not posted. 6. Rent Expense of $250 was posted as a credit rather than a debit. 7. The balance of Salary Expense is $2,600, but it was assumed as $2,000 on the trial balance due to poor handwriting. 8. A debit of $700 to Supplies Expense was posted as $70. The credit to Cash was correct. 9. The balance of Utilities Expense was overstated by $140. Other that these errors, Brenda was happy with Bill's efforts; she knows her job is safe! Required: Prepare Bungle Construction's correct trial balance at September 30, 2019. Show your calculations. Journal entries are not required. 1