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Chapter 2 P2-43B The trial balance for Missing Link Exploration Company does not balance. March 31st 2007. Cash $6,200-debit Accounts receivable $2000-debit Supplies $500- debit Exploration equipment $22,300-debit Computers $46,000-debit Accounts Payable $2,700- credit Note Payable $18,300-credit Jack Ballard, capital $50,800-credit Jack Ballard, withdrawals $5,000-debit Service Revenue $4,900-credit Service Expense $1,300-debit Rent Expense $500-debit Advertising Expense $300-debit Utilities Expense $200- debit Total Debits= $84,300 Total Credits= $76,700 The following errors were detected: A) The cash balance is overstated by $1,000 B) Rent expense of $350 was erroneously posted as a credit rather than a debit. C) A $6,900 credit to Service Revenue was not posted. D) A $600 debit to Accounts Receivable was posted as $60 E) The balance of Utilities Expense is understated by $60. F) A $100 purchase of supplies on account was neither journalized nor posted. G) Exploration equipment should be listed in the amount of $21,300. Requirement- Prepare the correct trial balance at March 31st
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