PR 24A Joumal entries and trial balance al of Debit column E ss32.25 e Realty acts as an agent in buying, selling, renting, and managing real estate. The unad $532.525 trial balance on March 31, 2018, follows: 1. Tota Elite Realty Unadjusted Trial Balance March 31, 2018 ENERAL LEDGER 26,300 61,500 3,000 1,800 12 13 Prepaid Insurance.... 16 21 14,000 Accounts Payable .. Unearned Rent 23 31 32 10.000 Common Stock Retained Earnings Dividends Fees Earned 41 240,000 148,200 Rent Expense Advertising Expense Automobile Expense Miscellaneous Expense 17,800 5,500 59 The following business transactions were completed by Elite Realty during April 2018 Apr. 1. Paid rent on office for month, $6,500. 2. Purchased office supplies on account, $2.300. 5. Paid insurance premiums, $6,000. 10. Received cash from clients on account, $52,300. 15. Purchased land for a future building site for $200,000, paying $30,000 in cash and giving a note payable for the remainder 17. Paid creditors on account. $6,450. 20. Returned a portion the 23. Paid advertising expense, $4,300. of the office supplies purchased on April 2, receiving full credit for their cost $32 Enter the following transactions on Page 19 of the two-column journal 27. Discovered an error in computing a commission received cash from the salesperson for the / overpayment, $2.500. 28. Paid automobile expense (including rental charges for an automobile), $1,500. 29. Paid miscellaneous expenses, $1,400. 30. Recorded revenue eamed and billed to clients during the month, $57,000 30 Paid salaries and commissions for the month, $11,900 30. Paid dividends. 54,000. 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; received advance payment of $10,000 Instructions 1. Record the April 1, 2018, balance of each account in the appropriate balance column four-column account, write Balance in the item section, and place a check mark Posting Reference column. entry explanations may be omitted each posting 2. Jounalize the transactions for April in a twocolumn journal beginning on Page 18 3. Post to the ledger, extending the account balance to the appropriate balance col 4. Prepare an unadjusted trial balance of the ledger as of April 30, 2018. 5. Assume that the April 30 transaction for salaries and commissions should have been $1s (A) Why did the unadjusted trial balance in () balance? (B) Journalize the correcting (C) Is this error a transposition or slide