Bea Wise is a budding entrepreneur and has a strong technological background. On 1 April 2021, she starts her own business, PhoneBea Solutions, which is a retailer of laptops, tablets and smartphones. Bea believes that her expert knowledge and ability to translate technical concepts into everyday terms for her customers will provide her with a competitive advantage over the competition, who focus more heavily on price than on providing individualised service. You used to live near Bea and you both went to the same school. At a recent school reunion, you met up with Bea and she tells you about her new venture. Bea mentions she is worried about the large amount of cash she has spent during the first month of trading. You tell her about how you are studying an accounting topic now and explain the difference between the cash and accrual basis of accounting. Bea asks you to help her by preparing accrual-based accounting information for her business. She supplies you with a list of transactions and events relating to her first month of trading, April 2021, and some additional information about the business.

Record end-of-month adjustments for PhoneBea Solutions for 30th of April here, based on items 1-4 of the additional information.

Select the appropriate accounts from the drop-down menus. Within each transaction, the accounts are split between these menus, so if you cannot find the account you want on one menu, check the other menu(s).

Enter your amounts as whole numbers without a dollar symbol.

• Increases should be entered as a positive number (e.g. 2000).

• A negative sign should be used for decreases (e.g. -2000), including all drawings and all expenses (which are a decrease in equity) and all contra-asset accounts (which decrease the value of their corresponding assets).

If you believe no transaction should be recorded, select No transaction has occurred from both drop-down menus and enter 0 in both amount boxes.

Additional Information 1. Carly has worked her standard hours for the past week, but she is not due to receive her pay until 7th May. (Adj # 1) 2. Beas phone and internet usage for April is estimated at $120, but she has not yet received the bill. (Adj # 2) 3. Her estimated electricity usage for April is $420. (Adj # 3) 4. She allows that $1,000 of her closing Accounts Receivable balance may not be collectible.(Adj # 4) Bea uses straight-line depreciation for all her assets. Bea uses a perpetual inventory system with a FIFO (first in, first out) inventory costing method.

Adj#1 Account Amount $ Account Amount $ Adj#2 Account Amount $ Account Amount $ Adj#3 Account Amount $ > Account Amount $ Adj#4 Account Amount $ Account Amount $