Terry Company hired a newly graduate accountant who formulated a trial balance at December 31, 2021 that is not balanced. The total debit balance amounted to P157,950 and total credit was P153,600. Upon checking, the following observations were noted: Cash amounting to P750 was not credited. A credited journal entry amounting to P3,000 intended for sales was made to accounts receivable. Interest income for P6,200 was credited for P2,600. What is the total trial balance total?

Terry Company hired a newly graduate accountant who formulated a trial balance at December 31, 2021 that is not balanced. The total debit balance amounted to P157,950 and total credit was P153,600. Upon checking, the following observations were noted: Cash amounting to P750 was not credited. A credited journal entry amounting to P3,000 intended for sales was made to accounts receivable. Interest income for P6,200 was credited for P2,600. What is the total trial balance total?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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