Neco 2022 Financial Accounting Question 23

The following trial balance (in Naira) was prepared at year‑end. Identify the errors and state the amount that must be recorded as Accrued Expenses (credit) to bring the trial balance into balance after correcting the misclassification of Capital.\n\nCash                         Dr  120,000\nAccounts Receivable            Dr  85,000\nInventory                     Dr  150,000\nEquipment                     Dr  200,000\nAccumulated Depreciation       Cr  50,000\nAccounts Payable               Cr  70,000\nBank Loan                      Cr  100,000\nCapital                        Dr  30,000  (should be Cr)\nSales Revenue                 Cr  300,000\nCost of Goods Sold            Dr  180,000\nRent Expense                  Dr  20,000\nInterest Expense               Dr  10,000\nDiscount Received              Cr  5,000  (omitted)\n\nWhat amount of Accrued Expenses should be recorded on the credit side?