The following trial balance, prepared by the bookkeeper of Mason Company, does not balance.Mason CompanyTrial BalanceCashAccounts PayableInsurance ExpenseSuppliesAccounts ReceivableSalaries PayableNotes PayableCommon StockDividendsRetained EarningsService RevenueUnearned Service RevenuePrepaid InsuranceSalaries ExpenseSupplies ExpenseDecember 31, 2019Debit3,0001,5001,2001,9008,00018,2002,1009,500$45,400Credit$19,0009,3003,1009,0002,0001,900900$45,200 Required:Prepare a correct trial balance. Assume all accounts have normal balances. If no amount is required, leave the entry box blank or enter "0".Mason CompanyTrial BalanceDecember 31, 2019DebitAccount$Credit

Name: The following trial balance, prepared by the bookkeeper of Mason Comp
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Description: The following trial balance, prepared by the bookkeeper of Mason Company, does not balance.Mason CompanyTrial BalanceCashAccounts PayableInsurance ExpenseSuppliesAccounts ReceivableSalaries PayableNotes PayableCommon StockDividendsRetained EarningsS

The trial balance is prepared using the final balance of the ledger accounts. The debit and credit…

Business

Accounting

The following trial balance, prepared by the bookkeeper of Mason Company, does not balance. Mason Company Trial Balance December 31, 2019 Cash Accounts Payable Insurance Expense Supplies Accounts Receivable Salaries Payable Notes Payable Common Stock Dividends Retained Earnings Service Revenue Unearned Service Revenue Prepaid Insurance Salaries Expense Supplies Expense Debit 3,000 1,500 1,200 1,900 8,000 18,200 2,100 9,500 $45,400 Credit $19,000 9,300 3,100 9,000 2,000 1,900 900 $45,200

The following trial balance, prepared by the bookkeeper of Mason Company, does not balance. Mason Company Trial Balance December 31, 2019 Cash Accounts Payable Insurance Expense Supplies Accounts Receivable Salaries Payable Notes Payable Common Stock Dividends Retained Earnings Service Revenue Unearned Service Revenue Prepaid Insurance Salaries Expense Supplies Expense Debit 3,000 1,500 1,200 1,900 8,000 18,200 2,100 9,500 $45,400 Credit $19,000 9,300 3,100 9,000 2,000 1,900 900 $45,200

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10PA: Elegant Universal uses the balance sheet aging method to account for uncollectible debt on...

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