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Question(s) / Instruction(s):

Debits

 

Credit

Cash

30000

 

Accounts payable

20000

Accounts receivable

32000

 

Fees earned

65000

Rent expense

15000

 

Common stock

5000

Insurance expense

4800

 

Retained earnings

14800

Supplies

5000

   

104800

Dividends

18000

     

Total

104800

 

   

 

The credit purchase of a delivery truck for $4,700 was posted to Delivery Trucks as a $4,700 debit and to Accounts Payable as a $4,700 debit. What effect would this error have on the trial balance?

The total of the Debit column of the trial balance will equal the total of the Credit column

The total of the Credit column of the trial balance will exceed the total of the Debit column by $9,400

The total of the Debit column of the trial balance will exceed the total of the Credit column by $9,400

The total of the Debit column of the trial balance will exceed the total of the Credit column by $4,700

The total of the Credit column of the trial balance will exceed the total of the Debit column by $4,700

 

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