The cash balance is overstated by $5,000.
Rent expense of $340 was erroneously posted as a credit rather than a debit.
A $6,800 credit to Service revenue was not posted.
A $400 debit to Accounts receivable was posted as $40.
The balance of Utilities expense is understated by $70.
A $900 purchase of supplies on account was neither journalized nor posted.
Equipment should be $16,490.
1. Prepare the corrected trial balance on February 29, 2020. Journal entries are not required.
2. Prepare the company’s financial statements for the month of February 2020.
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