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please correct these all entries Pharoah Inc's general ledger at April 30, 2021, included the following: Cash $5,400; Supplies $ 500; Equipment $ 21,000; Accounts
please correct these all entries
Pharoah Inc's general ledger at April 30, 2021, included the following: Cash $5,400; Supplies $ 500; Equipment $ 21,000; Accounts Payable $2,100; Deferred Revenue (from gift certificates) $ 1,200; Bank Loan Payable $10,000; Common Shares $5,000; and Retained Earnings $8,600. The following transactions occurred during May: May 1 Paid rent for the month of May, $1,200. 4 Paid $ 1,400 of the account payable outstanding at April 30. 7 Issued gift certificates for future services for $ 1,600 cash. 15 Received $3,000 from customers for services performed to date. 15 Paid $ 1.200 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 $2.100 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 $ 1,200 in salaries to employees. 31 Pald income tax instalment for the month. $150. Using Taccounts, enter the beginning balances in the general ledger as at April 30 and post the Mayjournal entries to the general ledger. (Post entries in the order presented in the problem.) Cash Apr. 30 5400 May 1 V 1200 May 7 1600 May 4 v 1400 May 15 V 3000 May 15 1200 May 28 2100 May 18 v 700 May 25 V 400 May 30 V 50 May 31 1200 May 31 v 150 Bal. 12100 Bal. 7000 Sunnlier Supplies Apr 30 500 May 22 700 Bal 1200 Bel 1200 Equipment Apr. 30 21000 Apr. 30 21000 Bel 21000 Bal 21000 Accounts Payable Way 4 1400 Apr. 30 2100 May 18 700 May 22 v 700 Bel 1200 May 24 500 Be 3000 Bel. 3300 Deferred Revenue May 17 700 Apr. 30 1200 May 29 600 May 7 1600 1600 Bal 2800 Bank Loan Payable Per 30 Aoc 30 V 10000 10000 Dal 10000 Common Shares For 30 5000 Por. 30 5000 5000 5000 Retained Earnings for 30 for 30 1250 1200 d retamed rattung Apr. 30 1200 Apr. 30 1200 Bal 1200 Bal 1200 Service Revenue May 15 3000 May 28 v 2100 May 17 700 Bal. 6400 May 29 V 600 Bal. 6400 Salaries Expense May 15 1200 May 31 1200 DIA Bal. 2400Step by Step Solution
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