Final Clean, a firm providing house-cleaning services, began business on April 1. The following accounts in its general ledger are needed to record the transactions for April: Cash; Accounts Receivable; Supplies; Prepaid Van Lease; Equipment; Accounts Payable; Notes Payable; Common Stock; Retained Earnings; Dividends; Cleaning Fees Earned; Wage Expense; Advertising Expense; and Fuel Expense.

a. Using the accounting equation, record each of the transactions in columnar format.

b. Use journal entries to record the following transactions for April in the general journal.

April 1 Randy Smith invested \(\$ 14,000\) cash to begin the business; he received common stock for his investment.

2 Paid six months' lease on a van, \(\$ 2,850\).

3 Borrowed \(\$ 10,000\) from a bank and signed a note payable agreeing to repay the \(\$ 10,000\) in one year plus 10 percent interest.

3 Purchased \(\$ 5,500\) of cleaning equipment; paid \(\$ 2,000\) down with the remainder due within 30 days.

4 Purchased cleaning supplies for \(\$ 4,300\) cash.

7 Paid \(\$ 350\) for newspaper advertisements to run during April.

21 Billed customers for services, \(\$ 3,500\).

23 Paid \(\$ 1,500\) on account to cleaning equipment firm (see April 3 transaction).

28 Collected \(\$ 2,300\) from customers on account.

29 Randy Smith received a \(\$ 1,000\) cash dividend.

30 Paid wages for April, \(\$ 1,750\).

30 Paid service station for gasoline used during April, \(\$ 350\).