Unadjusted Trial Balance July 31, 20Y8 Account No. Debit Balances Credit Balances Cash 11 12 9,010 21,000 1,020 610 Accounts Receivable Prepaid Insurance Office Supplies Land 13 14 16 Accounts Payable 21 5,940 Unearned Rent 22 23 31 10,000 Notes Payable Common Stock Retained Earnings Dividends 32 9,500 33 720 41 102,420 51 76,050 52 10,240 Fees Earned Salary and Commission Expense Rent Expense Advertising Expense Automobile Expense 53 6,040 54 1,840 59 1,330 Miscellaneous Expense 127,860 127,860 The following business transactions were completed by Valley Realty during August 20Y8: Cerg Eto eBook Spreadsheet Printem The following business transactions were completed by Valley Realty during August 20Y81 Aug. 1. Purchased office supplies on account: $930. 2. Paid rent on office for month, $3,570. 3. Received cash from clients on account, $17,850. 5. Paid Insurance premiums, $2,570 9. Returned a portion of the office supplies purchased on August 1, receiving full credit for their cost, 5140 17. Paid advertising expense, $1,430. 23. Paid creditors on account, $3,210. 29. Pald miscellaneous expense, $320. 30. Paid automobile expense (including rental charges for an automobile), $1,070 31 Discovered an error in computing a commission during July received cash from the salesperson for the overpayment, $710 31. Pald salaries and commissions for the month, $6,590. 31. Recorded revenue earned and tiled to clients during the month $21,420. 31. Purchased land for a future building site for $64,300, paying $7,100 in cash and olving a note payable for the remainder 31. Paid dividends, $710 31 Rented and purchased on August 31 to a local university for use as a parking lot during football season (September October, and November); received advance payment of $2.140, Required: Use the attached spreadsheet to complete parts 1 and 3. Click on the spreadsheet icon to open and save the Excel file to your computer. Your input into the spreadsheet will not be included in your grade in CengageNOW on this problem 1. Record the August 1, 2018 balance of each account in the appropriate balance column of the four column account. The word Balance has been entered in the item Book 15 Spreadsheet Print Item 1. Record the August 1, 20Y8 balance of each account in the appropriate balance column of the four-column account. The word Balance has section and a check mark (V) has been placed in the Posting Reference column. 2. Journalize and insert the Posting References for the transactions for August in a two-column Journal beginning on Page 18. For a compo box does not require an entry, leave it blank. General Journal Page 18 Description Post. Ref. Debit 2048 Date Credit Aug. 1 Aug. 2 Aug. 3 Aug. 5 Aug. 9 Aug. 17 Aug. 23 spreadsheet Print Item General Journal Description Date Page 19 Credit Post. Ref. Debit 20Y8 Aug. 29 Aug. 30 Aug. 31-Error
