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.1Paid rent on office for month, $3,500.2Purchased office supplies on account, $2,500.5Paid insurance premiums, $5,000.10Received cash from clients on account, $52,600.15Purchased land for a future building site for $224,000, paying $26,000 in cash and giving a note payable for the remainder.17Paid creditors on account, $6,45020Returned a portion of the office supplies purchased on April 2, receiving full credit for their cost, $350.23Paid advertising expense, $4,200.
Enter the following transactions on Page 19 of the two-column journal:
Apr.27Discovered an error in computing a commission; received cash from the salesperson for the overpayment, $2,300.28Paid automobile expense (including rental charges for an automobile), $1,200.29Paid miscellaneous expenses, $1,500.30Recorded revenue earned and billed to clients during the month, $55,000.30Paid salaries and commissions for the month, $14,700.30Paid dividends, $4,000.30Rented 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 $10,600
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