S Problem 2-4A The trial balance of Avtar Sandhu Co. shown below does not balanc

Question

S Problem 2-4A The trial balance of Avtar Sandhu Co. shown below does not balance. AVTAR SANDHU CO. Trial Balance June 30, 2017 Cash Accounts Receivable Supplies Equipment Accounts Payable Uneaned Service Revenue Owner's Capital $3,060 2,616 Service Revenue Salaries and Wages Expense Utilities Expense 2,984 $14,460 $17,875 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 $370, and Accounts Receivable was credited for the same amount. The actual $730 28-Mar-18

Explanation / Answer

The corrected trial balance Avtar Sandhu Co. AVTAR SANDHU CO. Trial Balance June 30,2017 Account Titles Debit Credit Cash $3,500.00 Accounts Receivable $2,700.00 Supplies $500.00 Equipment $3,000.00 Accounts Payable $3,300.00 Unearned service revenue $1,500.00 Owner's Capital $8,500.00 Owner's Drawings $3,200.00 Service Revenue $3,400.00 Salaries and Wages Expense $3,000.00 Utilities Expense $800.00 Total $16,700.00 $16,700.00 Required corrected Journal entries Account Titles Debit Credit Cash $360.00 Accounts Receivables $360.00 Computer $800.00 Supplies $800.00 Owner's Drawings $584.00 Salaries and Wages Expense $584.00

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