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All Omar opened a yard care business, Omar's Yard Care, on March 1, 2020. The following activities occurred during his first month of operations: a.
All Omar opened a yard care business, Omar's Yard Care, on March 1, 2020. The following activities occurred during his first month of operations: a. All Omar Invested $6,300 cash and $25,000 of equipment to start his business, Omar's Yard Care. b. Purchased various supplies on account: $3,600. c. Bought supplies on credit; $1,150. d. Omar signed a $6,000 contract to do yard work beginning in May. e. Did work for a client on account; $750. f. Performed services for a customer on credit; $1,600. g. Paid $400 for the supplies purchased in (c). h. Paid $450 for advertising online. i. Collected the amount owed from the customer in (f). Prepare an income statement, statement of changes in equity, and balance sheet for March 2020. Revenues: OMAR'S YARD CARE Income Statement For Month Ended March 31, 2020
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