Homework Answers
The answer is (5) The trial balance would be in balance, equipment would be understated by $9500 and accounts payables would be understated by $9500.
Reason: It is mentioned that the bookkeeper did not post the entry due to the lost invoice. It means the whole purchase entry is not posted leading to the matching of the trialbalance. However both the debit and credit side is understated by $9500 of missing entry in equipment account and accounts payables account.
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