The trial balance of Mueller SE shown below does not balance. Each of the listed accounts has
The trial balance of Mueller SE shown below does not balance.
Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors.
1. Cash received from a customer in payment of its account was debited for â‚¬570, and Accounts Receivable was credited for the same amount. The actual collection was for â‚¬750.
2. The purchase of a computer on account for â‚¬620 was recorded as a debit to Supplies for â‚¬620 and a credit to Accounts Payable for â‚¬620.
3. Services were performed on account for a client for â‚¬890. Accounts Receivable was debited for â‚¬890, and Service Revenue was credited for â‚¬89.
4. A debit posting to Salaries and Wages Expense of â‚¬700 was omitted.
5. A payment of a balance due for â‚¬309 was credited to Cash for â‚¬309 and credited to Accounts Payable for â‚¬390.
6. The payment of a â‚¬600 cash dividend was debited to Salaries and Wages Expense for â‚¬600 and credited to Cash for â‚¬600.
Prepare a correct trial balance.
Step by Step Answer: