Apr. 27 Discovered an error in computing a commission; received cash from the salesperson for the overpayment, $2,400. 28 Paid automobile expense (including rental charges for an automobile), $1,200. 29 Paid miscellaneous expenses, $1,300. 30 Recorded revenue earned and billed to clients during the month, $55,000. 30 Paid salaries and commissions for the month, $13,500. 30 Paid dividends, $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; recelved advance payment of $11,800. Required: 1. Record the April 1, 20Y3, balance of each account in the appropriate balance column of a four-column acceunt, type Balance in the item section, and select a check mark in the Posting Reference column. 2. Joumalize the transactions for April in a fwo-column joumal beginning on Page 18. 3. Post to the ledger, extending the account balance to the appropriate balance column after each posting. 4. Prepare an unadiusted trial balance of the ledger as of April 30, 20Y3. 5. Assume that the April 30 transaction for salaries and commissions should have been $15,300. (a) Why drd the unadjusted trial balance in (4) balance? (b) Journalize the correcting entry on April 30. Use page 20. (Note: You will not be required to post this entry to the ledger at this time.) (c) Is this error a transposition or slide? Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on March 31,20Y3, follows: he following business transactions were completed by Elite Realty during April 20Y3. Enter the transactions through the 23rd on Page 18 of the wo-column journal: Apr. 1 Paid rent on office for month, $5,500. 2 Purchased office supplies on account, $2,000. 5 Paid insurance premiums, $5,700. 10 Received cash from clients on account, $52,000. 15 Purchased land for a future building site for $235,500, paying $28,000 in cash and giving a note payable for the remainder. 17 Paid creditors on account, $5,85ct 20 Peturned a portion of the office supplies purchased on April 2, receiving full credit for their cost, $370. 23 Paid advertising expense, $4,350. \begin{tabular}{|r|l|r|r|} \hline 1 & Cash & 26,700.00 & \\ \hline 2 & Accounts Receivable & 59,100.00 & \\ \hline 3 & Prepaid Insurance & 3,400.00 & \\ \hline 4 & Office Supplies & 2,500.00 & \\ \hline 5 & Accounts Payable & \\ \hline 6 & Common Stock & & 14,000.00 \\ \hline 7 & Retained Earnings & & 10,000.00 \\ \hline 8 & Dividends & & 37,200.00 \\ \hline 9 & Fees Earned & \\ \hline 10 & Salary and Commission Expense & \\ \hline 11 & Rent Expense & & \\ \hline 12 & Advertising Expense & 148,500.00 & \\ \hline 13 & Automobile Expense & 34,000.00 & \\ \hline 14 & Miscellaneous Expense & 16,100.00 & \\ \hline 15 & Totals & 5,500.00 & \\ \hline \end{tabular}