accounting

Question 1 Wildhorse Inc.'s general ledger at April 30, 2018, included the following: Cash $5,100; Supplies $500; Equipment $23,900; Accounts Payable $2,300; Unearned Revenue (from gift certificates) $900; Bank Loan Payable $10,100; Common Shares $4,500; and Retained Earnings $11,700. The following transactions occurred during May: May 1 Paid rent for the month of May, $1,000. 4 Paid $1,000 of the account payable outstanding at April 30. 7 Issued gift certificates for future services for $1,500 cash. 15 Received $1,900 from customers for services performed to date. 15 Paid $1,100 in salaries to employees. 17 Customers receiving services worth $700 used gift certificates in payment. 18 Paid the remaining accounts payable from April 30. 22 Purchased supplies of $700 on account. 24 Received a bill for advertising for $500. This bill is due on June 22. 25 Received and paid a utilities bill for $400. 28 Received $1,900 from customers for services performed. 29 Customers receiving services worth $600 used gift certificates in payment. 30 Interest of $50 was paid on the bank loan. 31 Paid $1,300 in salaries to employees. 31 Paid income tax instalment for the month, $150. + (To record payment of salaries) (To record payment of income tax)