There are three errors on the following Trial Balance. Find each error: CASH ACCOUNTS RECEIVABLE ACCOUNT...

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There are three errors on the following Trial Balance. Find each error: CASH ACCOUNTS RECEIVABLE ACCOUNT ALLOWANCE FOR D.A. PREPAID INSURANCE EQUIPMENT ACCUM. DEPR TRIAL BALANCE DEBIT 5725 30000 2600 29000 10000 CREDIT 4125 ACCOUNTS PAYABLE SALARIES PAYABLE CAPITAL DRAWING INCOME SUMMARY SALES SALES RETURNS & ALLO PURCHASES PURCHASE DISCOUNTS 2000 32000 600 31950 2200 65000 800 PURCHASE DISCOUNTS SUPPLIES EXPENSE INSURANCE EXPENSE SALARIES EXPENSE INTEREST EXPENSE UTILITIES EXPENSE RENT EXPENSE DEPRECIATION EXPENSE TOTALS 150 300 2000 700 1500 1600 117575 800 104675 RENT EXPENSE DEPRECIATION EXPENSE TOTALS Error 1: Error 2: Error 3: 1600 117575 104675 There are three errors on the following Trial Balance. Find each error: CASH ACCOUNTS RECEIVABLE ACCOUNT ALLOWANCE FOR D.A. PREPAID INSURANCE EQUIPMENT ACCUM. DEPR TRIAL BALANCE DEBIT 5725 30000 2600 29000 10000 CREDIT 4125 ACCOUNTS PAYABLE SALARIES PAYABLE CAPITAL DRAWING INCOME SUMMARY SALES SALES RETURNS & ALLO PURCHASES PURCHASE DISCOUNTS 2000 32000 600 31950 2200 65000 800 PURCHASE DISCOUNTS SUPPLIES EXPENSE INSURANCE EXPENSE SALARIES EXPENSE INTEREST EXPENSE UTILITIES EXPENSE RENT EXPENSE DEPRECIATION EXPENSE TOTALS 150 300 2000 700 1500 1600 117575 800 104675 RENT EXPENSE DEPRECIATION EXPENSE TOTALS Error 1: Error 2: Error 3: 1600 117575 104675

Answer rating: 100% (QA)

Error 1 Drawing 2200 should be in Debit Column As per question t... View the full answer