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(Solved): Question 2(18 points) Lucy is the accountant of XYZ Corporation that commenced business a month ...
Question points) Lucy is the accountant of XYZ Corporation that commenced business a month ago. She extracted her trial balance on the last day of the first month as shown below. It failed to balance. Please check whether each account is debit or credit and revise the table to make the total debit and credit amount balanced.
Expert Answer
The Corrected Trial Balance with Balance Debit and Credit Column will be as follows-AccountsDebitCreditShare Capital$1,000,000Long-Term Debt$1,140,000