Corrected Trial Balance The Colby Group has the following unadjusted trial balance as of August 31, 20Y8. The Colby Group Unadjusted Trial Balance August 31, 20Y8 Debit Balances Credit Balances Cash 19,180 Accounts Receivable 34,330 Supplies 4,510 Prepaid Insurance 4,850 Equipment 000'60 <> Notes Payable Accounts Payable 9,740 Terry Colby, Capital 70,010 Terry Colby, Drawing Fees Earned 359,400 Wages Expense 212,332 Rent Expense 000' Advertising Expense 15,400 Miscellaneous Expense 11,500 476,902 484,450 The debit and credit totals are not equal as a result of the following errors: a. The balance of cash was overstated by $10,000. b. A cash receipt of $5,200 was posted as a debit to Cash of $2,500. C. A debit of $3,500 to Accounts Receivable was not posted. d. A return of $879 of defective supplies was erroneously posted as a $897 credit to Supplies. e. An insurance policy acquired at a cost of $800 was posted as a credit to Prepaid Insurance. f. The balance of Notes Payable was overstated by $9,000. g. A credit of $1,460 in Accounts Payable was overlooked when determining the balance of the account. h. A debit of $2,500 for a withdrawal by the owner was posted as a debit to Terry Colby, Capital. i. The balance of $14,500 in Advertising Expense was entered as $15,400 in the trial balance. j. Gas, Electricity, and Water Expense, with a balance of $3,090, was omitted from the trial balance. Required: 1. Prepare a corrected unadjusted trial balance as of August 31, 20Y8. If an amount box does not require an entry, leave it blank. The Colby Group Unadjusted Trial Balance August 31, 20Y8 Debit Credit Balances Balances Cash 15,150 Accounts Receivable Check My Work All work saved. The Colby Group Unadjusted Trial Balance August 31, 20Y8 Credit Balances Debit Balances Cash 15,150 0. Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Terry Colby, Capital <> Terry Colby, Drawing Fees Earned Wages Expense Rent Expense Advertising Expense Gas, Electricity, and Water Expense Miscellaneous Expense Feedback Check My Work 1. Identify which accounts are affected by the error. Add each correction to or subtract each correction from the corresponding account. Finally, re-total the corrections for each error. Remember the trial balance column totals should be equal. 2. Does the fact that the unadjusted trial balance in (1) is balanced mean that there are no errors in the accounts? Feedback Check My Work 2. The trial balance lists the account balances of all the ledger accounts and sums all of the debit balances and all of the credit balances. Feedback Check My WNork Partially correct Check My Work All work saved.