Chapter 2 Analyzing Transactions completed by Elite Realty during April 20 The following business transactions w Apr. 1. Paid rent on office for month, $6,500 2. Purchased office supplies on account, $2,.300. 5. Paid insurance premiums, $6,000 10 Received cash from clients on account, $52,300. 15. Purchased land for a future building site for $200,000, paying $30,000 in cash and giving a note payable for the remainder. 17. Paid creditors on account, $6.450 Returned a portion of the office supplies purchased on April 2, receiving ful credit for their cost, $325. 20. 23. Paid advertising expense, $4,300. Enter the following transactions on Page 19 of tbe two-column journal eived cash from the sales 27. D iscovered an error in computing a commission; rec person for the overpayment, $2,500. 28. Paid automobile expense (including rental charges for an automobile), $1,500 29. Paid miscellaneous expenses, $1,400 30. Recorded revenue earned and billed to clients during the month, $57,000. 30. Paid salaries and commissions for the month, $11,900. 30. Withdrew cash for personal use, $4,000. 30. Rented land purchased on April 15 to local merchants association for use as a parking lot in May and June, during a street rebuilding program; received ad- vance payment of $10,000. Instructions 1. Record the April 1, 2019, balance of each account in the appropriate a four-column account, write Balance in the item section, and place a check mark () in the Posting Reference column. 2. Journalize the transactions for April in a two-column journal beginning on Page 8. Journal entry explanations may be omitted 3. Post to the ledger, extending the account balance to the appropriate balance colu after each posting. 4. Prepare an unadjusted trial balance of the ledger as of April 30, 2019. 5. Assume that the April 30 transaction for salaries and commissions should have b $19,100. (a) Why did the unadjusted trial balance in (4) balance? (b) Jounalize correcting entry. (c) Is this error a transposition or slide