Question

The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Accounts Payable $507 Fees Earned $3,138 Accounts Receivable 720 Insurance Expense 675 Prepaid Insurance 1,506 Land 2,220 Cash 1,948 Wages Expense 570 Dividends 508 Common Stock 4,502 Prepare a trial balance. The total of the debits is

Answer 1

The debit balance of the trial balance is $8,147

Step-by-step explanation:

Monroe Entertainment Co

DEBIT CREDIT

Particulars Amount$ Particulars Amount$

Account Receivables 720 Accounts Payable 507

Prepaid Insurance 1,506 Fee earned 3,138

Cash 1,948 Common stock 4,502

Dividends 508

Insurance Expenses 675

Land 2,220

Wage Expenses 570

Total $8,147 Total $8,147