Several types of errors can be made during the journalizing and posting process. Match the following with their best description.

Group of answer choices

Balance incorrectly computed.

[ Choose ] Posting errors Account balance errors Trial balance preparation errors

Debit or credit posting omitted.

[ Choose ] Posting errors Account balance errors Trial balance preparation errors

Wrong amount posted to an account.

[ Choose ] Posting errors Account balance errors Trial balance preparation errors

Trial balance column incorrectly added.

[ Choose ] Posting errors Account balance errors Trial balance preparation errors

Balance entered on wrong side of account.

[ Choose ] Posting errors Account balance errors Trial balance preparation errors

Amount incorrectly entered on trial balance.

[ Choose ] Posting errors Account balance errors Trial balance preparation errors

Balance entered in wrong trial balance column or omitted.

[ Choose ] Posting errors Account balance errors Trial balance preparation errors

Debit posted as credit, or vice versa.

[ Choose ] Posting errors Account balance errors Trial balance preparation errors

2 On January 31, the cash account balance was $96,750. During January, cash receipts totaled $305,000 and cash payments totaled $375,880. Determine the cash balance on January 1.

3. On December 1, Nikle Company made a cash payment of $200,000 on a note payable that was generated in the purchase of a building and land. Provide the journal entry for this transaction.

4. Prepare a journal entry for the purchase of a truck on April 4 for $85,700, paying $15,000 cash and the remainder on account. Omit explanation.