5. Identify three (3) accounts that are most likely in error (not normal balances) in the followingС.rdentiny three (3) accounts that are most likely in error (not normal balances) in the followingtrial balance.5.d.Trial BalanceAs of September 30, 2020e.CreditDebitChase Checking52,597.00958.00)Accounts Receivable (A/R)f.Prepaid Insurance1,800.000.00Undeposited Funds15,000.00Equipment181.00Accounts Payable (A/P)70,000.00Owner's Investment1,230.00Service Revenue.338.002 Automobile Expense500.00Marketing Expense350.00Taxes & Licenses71,477.0071,477.00 $$TOTAL

Introduction: Trial balance: All ledger account final balances are posted in Trial balance to check…

5. Identify three (3) accounts that are most likely in error (not normal balances) in the following trial balance. Trial Balance As of September 30, 2020 Debit Credit Chase Checking 52,597.00 )Accounts Receivable (AR) 958.00 Prepaid Insurance 1,800.00 Undeposited Funds 0.00 Equipment 15,000.00 181.00 Accounts Payable (A/P) Owner's Investment 70,000.00 Service Revenue 1,230.00 338.00 2 Automobile Expense 500.00 Marketing Expense 350.00 Rlicenses 71.477.99

5. Identify three (3) accounts that are most likely in error (not normal balances) in the following trial balance. Trial Balance As of September 30, 2020 Debit Credit Chase Checking 52,597.00 )Accounts Receivable (AR) 958.00 Prepaid Insurance 1,800.00 Undeposited Funds 0.00 Equipment 15,000.00 181.00 Accounts Payable (A/P) Owner's Investment 70,000.00 Service Revenue 1,230.00 338.00 2 Automobile Expense 500.00 Marketing Expense 350.00 Rlicenses 71.477.99

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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