The accounts in the ledger of Monroe Entertainment Co. are listed in alphabetical order. All accounts have normal balances. Accounts Payable 1,500 Fees Earned 3,000 Accounts Receivable 1,800 Insurance Expense 1,300 Investment 2,000 Land 3,000 Cash 2,600 Wages Expense 1,400 Drawing 1,200 Capital 8,800 Prepare a trial balance. The total of the debits is

Question

Ronnie Knapp

Business

6 March, 17:46

The accounts in the ledger of Monroe Entertainment Co. are listed in alphabetical order. All accounts have normal balances. Accounts Payable 1,500 Fees Earned 3,000 Accounts Receivable 1,800 Insurance Expense 1,300 Investment 2,000 Land 3,000 Cash 2,600 Wages Expense 1,400 Drawing 1,200 Capital 8,800 Prepare a trial balance. The total of the debits is

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Rory Richard · Answer 1

Total debit balance = $12,100

Explanation:

All the accounts having debit balance will be accumulated:

Accounts Receivable = $1,800

Insurance Expense = $1,300

Investment = $2,000

Land = $3,000

Cash = $2,600

Wages Expense = $1,400

Total debit balance = $12,100

All the assets and expenses are added as they have debit balance and all the liabilities, capital and revenues are ignored as they have credit balances.