Your friend has come to you for advice on how to record a transaction in their accounting records for their proprietorship:

1) Use what you have learned in to explain what is done at each step up to preparing the trial balance.

2) How would you go about detecting the error(s) if a trial balance resulted in total debits of $23,500 and total credits of $22,700.

Answer rating: 100% (QA)

Dear student Sure Id be happy to help Heres a stepbystep explanation of how to record a transaction in accounting records for a proprietorship leading up to preparing the trial balance 1Identify the t... View the full answer