The following trial balance of Joy McDowell Tutoring Service, Inc., at May 31, 2012, does not balance:Investigation of the accounting records reveals that the bookkeeper:a. Recorded a $500 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 account payable in the amount of $400.d. Understated Common stock by $600.Requirement1. Prepare the corrected trial balance at May 31, 2012, complete with a heading; journal entries are notrequired.
The following trial balance of Joy McDowell Tutoring Service In