1. The following information relates to ABC Company:

A. Joe Tribianni started the ABC Company on 1 March 2020, with $85,000.

B. On March 3, Joe Tribianni purchased few equipments that will be used for the business. The total cost of the equipments were $16,000. The owner paid half of the amount in cash immediately and signed a 5- month, 8% notes payables for the remaining amount.

C. On March 3, Joe Tribianni also purchased one apartment floor of a commercial building for $10,000, that will be used as the corporate office for ABC Company.

D. On March 5, the company paid $700, for advertising the opening of ABC Company.

E. On March 10, Joe Tribianni received $26,000 from clients for services performed.

F. On March 11, the company sent bills to its customers, worth $1,500.

G. On March 12, ABC Company purchased supplies worth $2,300, on account.

H. On March 15, ABC Company sold goods to its customers worth $5,000, on account.

I. On March 19, Joe Tribianni withdrew $2,000 from the business for personal use.

J. On March 20, ABC Company owner paid salary and wages of $20,000, to its employees, for the month of March.

K. On March 21, Joe Tribianni paid $1,000 out of the balance that was due from March 12. The remainder will be paid later.

L. On March 22, the company sold goods and received $4,000.

M. On March 25, Joe Tribianni received payment from previously billed customers, from March 11.

N. On March 28, ABC Company paid rent of $2,400, for the current month.

O. On March 28, ABC Company received electricity bill of $1,000 and paid the amount in cash.

P. On March 30, Joe Tribianni received $2,200 from a client for services that will be performed and completed in May 30.

Required:

Prepare the Balance Sheet for ABC Company, for the month ended March 31, 2020.