Services were performed on account for a client for $ 800. Accounts Receivable was debited for $ 800, and Service Revenue was credited for $ 80. 3. 4. A debit posting to Salaries and Wages Expense of $ 800 was omitted. 5. A payment of a balance due for $ 407 was credited to Cash for $ 407 and credited to Accounts Payable for $ 470. The withdrawal of $ 512 cash for Sandhu's personal use was debited to Salaries and Wages Expense for $512 and credited to Cash for $ 512. 6. Prepare a correct trial balance. (Hint: It helps to prepare the correct journal entry for the transaction described and compare it to the mistake made.) PINA COLADA CO. Trial Balance
Services were performed on account for a client for $ 800. Accounts Receivable was debited for $ 800, and Service Revenue was credited for $ 80. 3. 4. A debit posting to Salaries and Wages Expense of $ 800 was omitted. 5. A payment of a balance due for $ 407 was credited to Cash for $ 407 and credited to Accounts Payable for $ 470. The withdrawal of $ 512 cash for Sandhu's personal use was debited to Salaries and Wages Expense for $512 and credited to Cash for $ 512. 6. Prepare a correct trial balance. (Hint: It helps to prepare the correct journal entry for the transaction described and compare it to the mistake made.) PINA COLADA CO. Trial Balance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Finish the trial balance
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