The following trial balance of Rich Macker Tutoring Service as of May 31, 2024, does...
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Accounting
The following trial balance of Rich Macker Tutoring Service as of May 31, 2024, does not balance. (Click the icon to view the trial balance.) Investigation of the accounting records reveals that the bookkeeper: (Click the icon to view the investigation results.) Prepare the corrected trial balance as of May31, 2024 complete with a heading; journal entries More info a. Recorded a $600 cash revenue transaction by debiting Accounts Receivable. The credit entry was correct. b. Posted a $1,000 credit to Accounts Payable as $100. c. Did not record Utilities Expense or the related Utilities Payable in the amount of $300. d. Understated Common Stock by $100
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The following trial balance of Rich Macker Tutoring Service as of May 31, 2024, does not balance. (Click the icon to view the trial balance.) Investigation of the accounting records reveals that the bookkeeper: (Click the icon to view the investigation results.) Prepare the corrected trial balance as of May31, 2024 complete with a heading; journal entries More info a. Recorded a $600 cash revenue transaction by debiting Accounts Receivable. The credit entry was correct. b. Posted a $1,000 credit to Accounts Payable as $100. c. Did not record Utilities Expense or the related Utilities Payable in the amount of $300. d. Understated Common Stock by $100 