1 of 7 < View Policies Current Attempt in Progress /10 1 Sparkling Clean Dry Cleaners Inc. began operations on January 1.2020 in its first year, the following transactions occurred 1 and common shares for $174.000 cash 2 Purchased dry cleaning equipment for $73,000 cash 3 Purchased cleaning supplies on account for $9.200 4 Used $8,100 of the supplies in cleaning operations 5 Collected $126.500 from customers for dry cleaning services provided 6 Borrowed $15,000 from the bank on July 1, 2020 at an Interest rate of % per year. (Use Bank Loan Payable 7. Paldwages of $50.300 to employees. In addition to this $1.000 of wages were owed to employees at the end of the year 8 Depreciated the equipment by $3.000 for the year 7. Paid $24.500 for utilities (telephone, electricity, and water). 10 On December 31, paid interest on the bank loan described in transaction 6 Preoseloomal Type fee so search 7C Partly sunny O 08 ENG 2141 13-05-20 Cash Supplies Equipment Accounts Payable Bank Loan Payable Was Payable Accumulated Depreciation Equipment Common Share Service Revenue Sparkling Clean Dry Cleaners Inc. Trial Balance December 31, 2020 Debit Credit 167500 800 73000 /10 1 9200 15000 1000 3000 174000 126500 202