Pharoah Salon Inc.'s general ledger at April 30, 2025, included the following: Cash $5,400, Supplies $540, Equipment $25,920,Accounts Payable $2,270, Notes Payable $10,800, Unearned Service Revenue (from gift certificates) $1,080, Common Stock $5,400,and Retained Earnings $12,310. The following events and transactions occurred during MayPaid rent for the month of May $1,080.Paid $1,190 of the account payable at April 30.Issued gift certificates for future services for $1,620 cash.Received $1,300 cash from customers for services performed.Paid $1,300 in salaries to employees.Received $860 in cash from customers for services performed.Customers receiving services worth $760 used gift certificates in payment.Paid the remaining accounts payable from April 30.Received $1.080 in cash from customers for services performed.22 Purchased supplies of $760 on account. All of these were used during the monthReceived a bill for advertising for $540. This bill is due on June 13.Received and paid a utilities bill for $430.May 1478ISSN 2 2 2 2 2 2 3 31415152122252529 Received $1.840 in cash from customers for services performed.29 Customers receiving services worth $650 used gift certificates in payment.31 Interest of $50 was paid on the note payable.31Paid $1.300 in salaries to employees.31Paid income tax payment for the month $160. Using T-accounts, enter the beginning balances in the general ledger as of April 30, 2025.CashSuppliesEquipmentAccounts PayableNotes PayableUnearned Service RevenueCommon StockRetained EarningsU

T accounts are used in initial step in accounting cycle process. These general ledger accounts are…

Answered: Using T-accounts, enter the beginning…

Business

Accounting

Using T-accounts, enter the beginning balances in the general ledger as of April 30, 2025. Cash Supplies Equipment

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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