60.1K

Verified Solution

Link Copied!

Ivanhoe Salon Inc's general ledger at April 30, 2025, included the following: Cash \$4,000, Supplies \$400, Equipment $19.200. Accounts Payable $1,680, Notes Payable $8,000, Unearned Service Revenue (from gift certificates) $800, Common $ tock $4,000, and Retained Earnings $9,120. The following events and transactions occurred during May. May 1 Paid rent for the month of May $800. 4 Paid $880 of the account payable at April 30. 7 Issued giftcertificates for future servicik for $1,200 cash 8 Received $960 cash from customers for services performed. 14 Paid $960 in salaries to employees. 15 Received $640 in cash from custorners for services performed. 15 Customers recelving services worth $560 used gift certificates in payment. 21 Paid the remaining accounts payable from April 30. 22 Received $00 incash from customers for services performed, 22 Purchased supplies of $560 on account. All of these were used during the month. 25 Received a bill for advertising for $400. This bill is due on June 13. 25 Received and paid a utilities bill for $320. 29 Received $1,360 in cash from customers for services performed. 29 Customers receiving services worth $480 used gift certificates in piyment. 31 Interest of $40 was paid on the note payable. Accounts Payable Notes Payable Unearned Service Revenue Common Stock Retained Earnings 31 Paid $960 insalaries to empiovees. 31 Paid income tax payment for the month 5120 . (a): Using Traccounts, enter the beginning balances in the general ledger as of April 30, 2025

Answer & Explanation Solved by verified expert

See Answer