A payment on account for 206 was credited to Cash for 206 an

A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260. 5. 6. Payment of a $600 cash dividend to Washburn\'s stockholders was debited to Salaries and Wages Expense for $600 and credited to Cash for $600. Instructions Prepare the correct trial balance. (Hin: All accounts have normal balances.)

Solution

WASHBURN CO. Trial Balance June 30, 2017 Debit Credit Cash (3,090 + 870 - 780) 3000 Accounts Receivable (3,190 - 870 + 780) 3100 Supplies (800 - 340) 460 Equipment (3,000 + 340) 3,340 Accounts Payable (3,686 - 206 - 260) 3,220 Unearned Service Revenue 1,200 Common Stock 9,000 Retained Earnings 800 Service Revenue (3,480 + 900 - 90) 4,290 Salaries and Wages Expense (3,600 + 700 - 600) 3,700 Office Expense 910 16510 16510