E2-26 Correcting errors in a trial balance [15–20 min] The following trial balance of Joy McDowell Tutoring Service, Inc., at May 31, 2012, does not balance:

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E2-26 Correcting errors in a trial balance [15–20 min] The following trial balance of Joy McDowell Tutoring Service, Inc., at May 31, 2012, does not balance:

::TABLE:::

Investigation of the accounting records reveals that the bookkeeper:

• a. Recorded a $500 cash revenue transaction by debiting Accounts receivable. The credit entry was correct.
• b. Posted a $1,000 credit to Accounts payable as $100.
• c. Did not record utilities expense or the related account payable in the amount of $400.
• d. Understated Common stock by $600.

Requirement
1. Prepare the corrected trial balance at May 31, 2012, complete with a heading; journal entries are not required.