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Ali Omar opened a yard care business, Omars Yard Care, on March 31, 2020. The following activities occurred during his first month of operations: Ali
Ali Omar opened a yard care business, Omars Yard Care, on March 31, 2020. The following activities occurred during his first month of operations:
- Ali Omar invested $5,300 cash and $20,000 of equipment to start his business, Omars Yard Care.
- Purchased various supplies on account; $2,600.
- Bought supplies on credit; $1,050.
- Omar signed a $5,000 contract to do yard work beginning in May.
- Did work for a client on account; $650.
- Performed services for a customer on credit; $1,100.
- Paid $300 for the supplies purchased in (c).
- Paid $350 for advertising online.
- Collected the amount owed from the customer in (f).
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