The following business transactions were completed by Elite Realty during April 20Y3. Enter the transactions through the 23rd on Page 18 of the two-column journal: Apr. 1 Paid rent on office for month, $5,000. 2 Purchased office supplies on account, $2,200. 5 Paid insurance premiums, $5,700. 10 Received cash from clients on account, $52,300. 15 Purchased land for a future building site for $222,000, paying $30,000 in cash and giving a note payable for the remainder. 17 Paid creditors on account, $6,150 20 Returned a portion of the office supplies purchased on April 2, receiving full credit for their cost, $360. 23 Paid advertising expense, $4,300

Enter the following transactions on Page 19 of the two-column journal: Apr. 27 Discovered an error in computing a commission; received cash from the salesperson for the overpayment, $2,700. 28 Paid automobile expense (including rental charges for an automobile), $1,700. 29 Paid miscellaneous expenses, $1,300. 30 Recorded revenue earned and billed to clients during the month, $54,000. 30 Paid salaries and commissions for the month, $14,700. 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; received advance payment of $11,400

Instructions Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on March 31 , 20Y3, follows: Chart of Accounts Elite Realty UNADJUSTED TRIAL BALANCE CHART OF ACCOUNTS \begin{tabular}{|l|l|r|r|} \hline \multicolumn{2}{|c|}{ March 31, 20Y3 } \\ \hline \multicolumn{1}{|l|}{ ACCOUNT TITLE } & \multicolumn{1}{c|}{ DEBIT } & \multicolumn{1}{c|}{ CREDIT } \\ \hline 1 & Cash & 26,900.00 & \\ \hline 2 & Accounts Receivable & 60,600.00 & \\ \hline 3 & Prepaid Insurance & 2,700.00 & \\ \hline 4 & Office Supplies & 2,100.00 & \\ \hline 5 & Accounts Payable & & 12,600.00 \\ \hline 6 & Common Stock & & 10,000.00 \\ \hline 7 & Retained Earnings & & 37,300.00 \\ \hline 8 & Dividends & 2,100.00 & \\ \hline 9 & Fees Earned & & 236,600.00 \\ \hline 10 & Salary and Commission Expense & 144,800.00 & \\ \hline 11 & Rent Expense & 32,000.00 & \\ \hline 12 & Advertising Expense & 16,700.00 & \\ \hline 13 & Automobile Expense & 4,700.00 & \\ \hline 14 & Miscellaneous Expense & 3,900.00 & \\ \hline 15 & Totals & 296,500.00 & 296,500.00 \\ \hline & & & \\ \hline \end{tabular} Elite Realty General Ledger \begin{tabular}{lc} \multicolumn{1}{c}{ ASSETS } & REVENUE \\ 11 Cash & 41 Fees Earned \\ 12 Accounts Receivable & \\ 13 Prepaid Insurance & EXPENSES \\ 14 Office Supplies & 51 Salary and Commission Expense \\ 16 Land & 52 Rent Expense \\ & 53 Advertising Expense \\ LIABILITIES & 54 Automobile Expense \\ 21 Accounts Payable & 59 Miscellaneous Expense \\ 22 Unearned Rent & \\ 23 Notes Payable & \\ 31 Common Stock & \\ 32 Retained Earnings & \\ 33 Dividends \end{tabular} appropriate balance column after each posting. General Ledger Instructions 4. Prepare an unadjusted trial balance of the ledger as of April 30, 20Y3. (b) Journalize the correcting entry on April 30. Use page 20. (Note: You will not be required to post this entry to the ledger a this time.) (c) Is this error a transposition or slide