The credit total of a trial balance exceeds the debit total by P350. In investigating the cause of the difference, the following errors were determined:
a credit to accounts receivable of P550 was not posted;
a P5,000 debit to be made to the Purchases account was debited to Accounts payable instead;
a P3,000 credit to be made to the Sales account was credited to the Accounts receivable account instead;
the Interest payable account balance of P4,500 was included in the trial balance as P5,400.
The correct balance of the trial balance is ___________.
I found out that the correct answer is 7,450 but I don't know how it became 7450. Can someone show me the solution
a credit to accounts receivable of P550 was not posted;
a P5,000 debit to be made to the Purchases account was debited to Accounts payable instead;
a P3,000 credit to be made to the Sales account was credited to the Accounts receivable account instead;
the Interest payable account balance of P4,500 was included in the trial balance as P5,400.
The correct balance of the trial balance is ___________.
I found out that the correct answer is 7,450 but I don't know how it became 7450. Can someone show me the solution
