a-company-finds-that-its-debits-do-not-equal-credits-in-the-unadjusted-trial-bal

Question

A company finds that its debits do not equal credits in the unadjusted trial balance. What should be the first step to resolve this?

Accepted Answer

Review all journal entries for errors.

Answer

Prepare the financial statements regardless.

Answer

Increase the debit side to match the credit side.

Answer

Ignore the discrepancy as it will be adjusted later.