Question

will trial balance balance if: A collection from a customer of $230 in payment of its account owed was journalized and posted as a debit to Cash $230 and a credit to Service Revenue $230.

Answer 1

The trial balance will not balance if a collection from a customer of $230 in payment of its account owed was journalized and posted as a debit to Cash $230 and a credit to Service Revenue $230.

Step-by-step explanation:

The trial balance will not balance if a collection from a customer of $230 in payment of its account owed was journalized and posted as a debit to Cash $230 and a credit to Service Revenue $230.

In the trial balance, the total debits should equal the total credits. However, in this case, there is only a debit of $230 to Cash and no corresponding credit to offset it. Therefore, the trial balance will not balance.

To correct this error and balance the trial balance, a credit entry should be made to Cash for $230 and a corresponding debit entry should be made to Service Revenue for $230.