Valley Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on July 31, 20Y8, is shown below. Valley Realty Unadjusted Trial Balance July 31, 20Y8 Account No. Debit Balances Credit Balances Cash 11 12,910 Accounts Receivable 12 30,080 Prepaid Insurance 13 1,470 Office Supplies 14 880 Land 16 Accounts Payable 21 8,510 Unearned Rent 22 Notes Payable 23 Common Stock 31 10,000 Retained Earnings 32 19,300 Dividends 33 1,030 Fees Earned 41 146,720 Salary and Commission Expense 51 110,280 Rent Expense 52 14,670 Advertising Expense 53 8,660 Automobile Expense 54 2,640 Miscellaneous Expense 59 1,910 184,530 184,530 The following business transactions were completed by Valley Realty during August 20Y8: Aug. 1. Purchased office supplies on account, $1,330. 2. Paid rent on office for month, $5,110. 3. Received cash from clients on account, $25,570. 5. Paid insurance premiums, $3,680. 9. Returned a portion of the office supplies purchased on August 1, receiving full credit for their cost, $200. 17. Paid advertising expense, $2,050. 23. Paid creditors on account, $4,600. 29. Paid miscellaneous expense, $460. 30. Paid automobile expense (including rental charges for an automobile), $1,530. 31. Discovered an error in computing a commission during July; received cash from the salesperson for the overpayment, $1,020. 31. Paid salaries and commissions for the month, $5,480. 31. Recorded revenue earned and billed to clients during the month, $30,680. 31. Purchased land for a future building site for $92,100, paying $10,100 in cash and giving a note payable for the remainder. 31. Paid dividends, $1,020. 31. Rented land 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 $3,070. 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, 20Y8 balance of each account in the appropriate balance column of the four-column account. The word Balance has been entered in the item section and a check mark () 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 compound transaction, if an amount box does not require an entry, leave it blank. General Journal Page 18 Date Description Post. Ref. Debit Credit 20Y8 Aug. 1 fill in the blank 646c0f03bfb8fd6_2 fill in the blank 646c0f03bfb8fd6_3 fill in the blank 646c0f03bfb8fd6_4 fill in the blank 646c0f03bfb8fd6_6 fill in the blank 646c0f03bfb8fd6_7 fill in the blank 646c0f03bfb8fd6_8 Aug. 2 fill in the blank 646c0f03bfb8fd6_10 fill in the blank 646c0f03bfb8fd6_11 fill in the blank 646c0f03bfb8fd6_12 fill in the blank 646c0f03bfb8fd6_14 fill in the blank 646c0f03bfb8fd6_15 fill in the blank 646c0f03bfb8fd6_16 Aug. 3 fill in the blank 646c0f03bfb8fd6_18 fill in the blank 646c0f03bfb8fd6_19 fill in the blank 646c0f03bfb8fd6_20 fill in the blank 646c0f03bfb8fd6_22 fill in the blank 646c0f03bfb8fd6_23 fill in the blank 646c0f03bfb8fd6_24 Aug. 5 fill in the blank 646c0f03bfb8fd6_26 fill in the blank 646c0f03bfb8fd6_27 fill in the blank 646c0f03bfb8fd6_28 fill in the blank 646c0f03bfb8fd6_30 fill in the blank 646c0f03bfb8fd6_31 fill in the blank 646c0f03bfb8fd6_32 Aug. 9 fill in the blank 646c0f03bfb8fd6_34 fill in the blank 646c0f03bfb8fd6_35 fill in the blank 646c0f03bfb8fd6_36 fill in the blank 646c0f03bfb8fd6_38 fill in the blank 646c0f03bfb8fd6_39 fill in the blank 646c0f03bfb8fd6_40 Aug. 17 fill in the blank 646c0f03bfb8fd6_42 fill in the blank 646c0f03bfb8fd6_43 fill in the blank 646c0f03bfb8fd6_44 fill in the blank 646c0f03bfb8fd6_46 fill in the blank 646c0f03bfb8fd6_47 fill in the blank 646c0f03bfb8fd6_48 Aug. 23 fill in the blank 646c0f03bfb8fd6_50 fill in the blank 646c0f03bfb8fd6_51 fill in the blank 646c0f03bfb8fd6_52 fill in the blank 646c0f03bfb8fd6_54 fill in the blank 646c0f03bfb8fd6_55 fill in the blank 646c0f03bfb8fd6_56 General Journal Page 19 Date Description Post. Ref. Debit Credit 20Y8 Aug. 29 fill in the blank 646c0f03bfb8fd6_58 fill in the blank 646c0f03bfb8fd6_59 fill in the blank 646c0f03bfb8fd6_60 fill in the blank 646c0f03bfb8fd6_62 fill in the blank 646c0f03bfb8fd6_63 fill in the blank 646c0f03bfb8fd6_64 Aug. 30 fill in the blank 646c0f03bfb8fd6_66 fill in the blank 646c0f03bfb8fd6_67 fill in the blank 646c0f03bfb8fd6_68 fill in the blank 646c0f03bfb8fd6_70 fill in the blank 646c0f03bfb8fd6_71 fill in the blank 646c0f03bfb8fd6_72 Aug. 31-Error fill in the blank 646c0f03bfb8fd6_74 fill in the blank 646c0f03bfb8fd6_75 fill in the blank 646c0f03bfb8fd6_76 fill in the blank 646c0f03bfb8fd6_78 fill in the blank 646c0f03bfb8fd6_79 fill in the blank 646c0f03bfb8fd6_80 Aug. 31-Salary fill in the blank 646c0f03bfb8fd6_82 fill in the blank 646c0f03bfb8fd6_83 fill in the blank 646c0f03bfb8fd6_84 fill in the blank 646c0f03bfb8fd6_86 fill in the blank 646c0f03bfb8fd6_87 fill in the blank 646c0f03bfb8fd6_88 Aug. 31-Revenue fill in the blank 646c0f03bfb8fd6_90 fill in the blank 646c0f03bfb8fd6_91 fill in the blank 646c0f03bfb8fd6_92 fill in the blank 646c0f03bfb8fd6_94 fill in the blank 646c0f03bfb8fd6_95 fill in the blank 646c0f03bfb8fd6_96 Aug. 31-Land fill in the blank 646c0f03bfb8fd6_98 fill in the blank 646c0f03bfb8fd6_99 fill in the blank 646c0f03bfb8fd6_100 fill in the blank 646c0f03bfb8fd6_102 fill in the blank 646c0f03bfb8fd6_103 fill in the blank 646c0f03bfb8fd6_104 fill in the blank 646c0f03bfb8fd6_106 fill in the blank 646c0f03bfb8fd6_107 fill in the blank 646c0f03bfb8fd6_108 Aug. 31-Dividends fill in the blank 646c0f03bfb8fd6_110 fill in the blank 646c0f03bfb8fd6_111 fill in the blank 646c0f03bfb8fd6_112 fill in the blank 646c0f03bfb8fd6_114 fill in the blank 646c0f03bfb8fd6_115 fill in the blank 646c0f03bfb8fd6_116 Aug. 31-Rent fill in the blank 646c0f03bfb8fd6_118 fill in the blank 646c0f03bfb8fd6_119 fill in the blank 646c0f03bfb8fd6_120 fill in the blank 646c0f03bfb8fd6_122 fill in the blank 646c0f03bfb8fd6_123 fill in the blank 646c0f03bfb8fd6_124 Required: 3. Post to the ledger, extending the account balance to the appropriate balance column after each posting. 4. Using the balances from the spreadsheet, prepare an unadjusted trial balance of the ledger as of August 31, 20Y8. List all accounts in the order of Assets, Liabilities, Stockholders equity, Revenues, and Expenses. If an amount box does not require an entry, leave it blank. Valley Realty Unadjusted Trial Balance August 31, 20Y8 Account No. Debit Balances Credit Balances fill in the blank 91417bfff078fa6_2 fill in the blank 91417bfff078fa6_3 fill in the blank 91417bfff078fa6_4 fill in the blank 91417bfff078fa6_6 fill in the blank 91417bfff078fa6_7 fill in the blank 91417bfff078fa6_8 fill in the blank 91417bfff078fa6_10 fill in the blank 91417bfff078fa6_11 fill in the blank 91417bfff078fa6_12 fill in the blank 91417bfff078fa6_14 fill in the blank 91417bfff078fa6_15 fill in the blank 91417bfff078fa6_16 fill in the blank 91417bfff078fa6_18 fill in the blank 91417bfff078fa6_19 fill in the blank 91417bfff078fa6_20 fill in the blank 91417bfff078fa6_22 fill in the blank 91417bfff078fa6_23 fill in the blank 91417bfff078fa6_24 fill in the blank 91417bfff078fa6_26 fill in the blank 91417bfff078fa6_27 fill in the blank 91417bfff078fa6_28 fill in the blank 91417bfff078fa6_30 fill in the blank 91417bfff078fa6_31 fill in the blank 91417bfff078fa6_32 fill in the blank 91417bfff078fa6_34 fill in the blank 91417bfff078fa6_35 fill in the blank 91417bfff078fa6_36 fill in the blank 91417bfff078fa6_38 fill in the blank 91417bfff078fa6_39 fill in the blank 91417bfff078fa6_40 fill in the blank 91417bfff078fa6_42 fill in the blank 91417bfff078fa6_43 fill in the blank 91417bfff078fa6_44 fill in the blank 91417bfff078fa6_46 fill in the blank 91417bfff078fa6_47 fill in the blank 91417bfff078fa6_48 fill in the blank 91417bfff078fa6_50 fill in the blank 91417bfff078fa6_51 fill in the blank 91417bfff078fa6_52 fill in the blank 91417bfff078fa6_54 fill in the blank 91417bfff078fa6_55 fill in the blank 91417bfff078fa6_56 fill in the blank 91417bfff078fa6_58 fill in the blank 91417bfff078fa6_59 fill in the blank 91417bfff078fa6_60 fill in the blank 91417bfff078fa6_62 fill in the blank 91417bfff078fa6_63 fill in the blank 91417bfff078fa6_64 fill in the blank 91417bfff078fa6_66 fill in the blank 91417bfff078fa6_67 fill in the blank 91417bfff078fa6_68 fill in the blank 91417bfff078fa6_69 fill in the blank 91417bfff078fa6_70 5a. Assume that the August 31 transaction for dividends should have been $4,580. As a result, the unadjusted trial balance in (4) would 5b. Assume that the August 31 transaction for dividends should have been $4,580. Journalize the correcting entry. If an amount box does not require an entry, leave it blank. General Journal Page 19 Date Description Post. Ref. Debit Credit 20Y8 Aug. 31 fill in the blank 91417bfff078fa6_73 fill in the blank 91417bfff078fa6_74 fill in the blank 91417bfff078fa6_75 fill in the blank 91417bfff078fa6_77 fill in the blank 91417bfff078fa6_78 fill in the blank 91417bfff078fa6_79 5c. Assume that the August 31 transaction for dividends should have been $4,580. Is this error a transposition or slide?