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Pharoah Me Salon Inc's general ledger at April 30, 2024, included the following: Cash $8,400; Supplies $3,900; Equipment $32,880; Accumulated Depreciation-Equipment $5,480 Accounts Payable $4,650;
Pharoah Me Salon Inc's general ledger at April 30, 2024, included the following: Cash $8,400; Supplies $3,900; Equipment $32,880; Accumulated Depreciation-Equipment \$5,480 Accounts Payable \$4,650; Deferred Revenue (from gift certificates) \$2,700; Bank Loan Payable $11,700; Common Shares $8,400; and Retained Earnings $12,250. The following transactions occurred during May: May 1 Paidrent for the month of May, $2,700. 4 Paid $2,460 of the account payable outstanding at April 30. 7 issued gift certificates for future services for $3.200 cash. 15 Received $6,250 from customers for services performed to date. 15 Paid $2,900 in salaries to employees. 17 Customers receiving services worth $2,060 used gift certificates in payment. 18. Paid the remaining accounts payable from April30. 22 Purchased supplies for $2.060 on account. 24 Received a bill for advertising for $3,900. This bill is due on June 22. 25 Received and paid a utilities bill for $1,250 7 Issued gift certificates for future services for $3.200 cash. 15 Received $6,250 from customers for services performed to date. 15 Paid $2,900 in salaries to employecs. 17 Customers receiving services worth $2,060 used gift certificates in payment. 18 Paid the remaining accounts payable from April 30. 22 Purchased supplies for $2,060 on account. 24 Received a bill for advertising for $3,900. This bill is due on June 22. 25 Received and paid a utilities bill for $1,250. 28 Received $4,650 from customers for services performed. 29 Customers receiving services worth $1.960 used gift certificates in payment. 30 Interest of \$135 was paid on the bank loan. 31 Paid $2.900 in salaries to emplovees. 31 Paid income tax instalment for the month, $320
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