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At the beginning of March, Crane Software Company had Cash of $12,204, Accounts Receivable of $18,492, Accounts Payable of $3,967, and G. Crane, Capital of
At the beginning of March, Crane Software Company had Cash of $12,204, Accounts Receivable of $18,492, Accounts Payable of $3,967, and G. Crane, Capital of $26,729. During the month of March, the following transactions occurred. 1. Purchased equipment for $24,736 from Digital Equipment. Paid $5,936 cash and signed a note payable for the balance. 2. Received $12,377 from customers for contracts billed in February. 3. Paid $2,835 for March rent of office space. 4. Paid $2,686 of the amounts owing to suppliers at this beginning of March. 5. Provided software services to Kwon Construction Company for $7,457 cash. 6. Paid BC Hydro $1,008 for energy used in March. 7. G. Crane withdrew $4,622 cash from the business. 8. Paid Digital Equipment $1,974 on account of the note payable issued for the equipment purchased in transaction 1. Of this, $94 was for interest expense. 9. Hired an employee to start working in April. 10. Incurred advertising expense on account for March, $1,349
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