Question
ABM Company completed the following transactions during March, 2017: March 2 Received $11,000 cash from Ruiz, and issued common stock to him. March 3 Paid
ABM Company completed the following transactions during March, 2017:
March 2 Received $11,000 cash from Ruiz, and issued common stock to him.
March 3 Paid cash to purchase a computer, $4,200.
March 9 Performed services for a client and received cash for the full amount of $1,000.
March 12 Paid utility expenses, $200.
March 16 Purchased office furniture for $1,800. Paid $800 cash. Rest will be paid in two weeks.
March 18 Performed services for a client on account, $1,500.
March 28 Collected $1,500 from the client on March 18.
March 29 Paid $1000 for the payment of furniture purchased on March 16.
March 30 Performed services for a client and received cash for the full amount of $2,500.
March 31 Paid monthly office rent, $700. (4 points) March 31 Paid salaries of $ 2,500 for March.
Instructions 1- Journalize the transactions for the month of March
2- Prepare T accounts and trial balance for the montf of March
3- Prepare Income Statement and Balance Sheet at the end of the month.
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