Accounting Cycle Review 4-02 (Part Level Submission)

Lars Linken opened Pronghorn Cleaners on March 1, 2022. During March, the following transactions were completed.

Mar. 1		Issued 9,800 shares of common stock for $14,700 cash.
1		Borrowed $6,000 cash by signing a 6-month, 6%, $6,000 note payable. Interest will be paid the first day of each subsequent month.
1		Purchased used truck for $7,800 cash.
2		Paid $1,500 cash to cover rent from March 1 through May 31.
3		Paid $2,400 cash on a 6-month insurance policy effective March 1.
6		Purchased cleaning supplies for $1,960 on account.
14		Billed customers $3,630 for cleaning services performed.
18		Paid $490 on amount owed on cleaning supplies.
20		Paid $1,720 cash for employee salaries.
21		Collected $1,570 cash from customers billed on March 14.
28		Billed customers $4,120 for cleaning services performed.
31		Paid $340 for gas and oil used in truck during month (use Maintenance and Repairs Expense).
31		Declared and paid a $880 cash dividend.

PRONGHORN CLEANERS Income Statement $