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At the end of the first month of operations for SloMo Delivery Service, the business had the following accounts: Accounts Receivable, $1,260; Prepaid Insurance, $560;
At the end of the first month of operations for SloMo Delivery Service, the business had the following accounts: Accounts Receivable, $1,260; Prepaid Insurance, $560; Equipment, $36,800 and Cash, $40,950. On the same date, SloMo owed the following creditors: Simpson Supply Company, $12,600; Allen Office Equipment, $9,800.
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