20 peredar Cleaners on March Transactions for the month of March were as follows 1 March 1 1 0.000 shares of common stock for $15.000 cash 2 March 1Borrowed $6.000 cash by signing a month. 6. 56.000 note a ble Interest will be pad the first day of each substuent month March Purchased for 5.000 ch March 2Pad 51,500 cash cover rent from March 1 throu May March 200 on a month insurance policy ffective March 1 6 March 6 Purchased cleaning supplies for $2.000 an out 7 March 14 led customers $3.700 for cleaning services performed & March 15 Paid 5500 on amount owed on cleaning suples March 20 $1,750 cash for employee salaries 10 March 21 collected $1.500 cash from customers bied on March 14 11 March 28 customers 54 200 for cleaning services performed 12 March 31 Paid 5350 for gas and all used in truck during months Maintenance and Repair 13 March 31 Declared and said 5900 cash dividend The chart of accounts for Lars Cleaners contains the following accounts Rounts Receivable Supplies Prepaid Insurance Prepaid Rent Equiment Accumulated Depreciation Equipment Accounts Payable Salares and Wages Payable Notes Payable Interest Payable Common Stock Retained Earnings Diydende come Summary Service Revenue Maintenance an Supplies Expense Depreciation Expense Insurance Excente Salaries and Wages Expense Interesapan INSTRUCTIONS Journal the March transaction Post to the ledger accounts, T-accounts Prepare a trial balance at March 31. d. Journalise the following adjustments 1 Services performed but unbilled and uncollected at March 31 was $200 2. Depreciation on ment for the month was $250 3. One Sixth of the insurance expired. 4 An inventory count shows $20 of cleaning soples on hand at March 31 5. Accrued butungad mployee salaries were $100 6. One month of the prepad rent has expired. 7. One month oferestres related to the note payable has accrued and will be paid April 1. Hint: Use the formula from ustration 4 19 to compute interest Face Value of Note X Annual interest Rate x Time in terms of one year interest e Post adusting entries to the accounts. 1. Prepare an adused trial balance Prepare the income statement and retained aming watement for March and a classified balance sheet at March 31 Toure and pasting entries and complete the desing roce Prepare a post-cong trial balance at March 31