Chapter 2 Linking Personal Accounting to Business Accounting AP-1 3B (@OO @ @) Helga Stiles operates a hairstyling company. The opening balances from Helga's Hairstyling's financial records on March 1, 2016 is shown below Cash Equipment Supplies Building Accounts Payable Bank Loan Stiles, Capital $18,000 4,300 1,200 40,000 3,600 100,000 59,900 The following transactions took place during the month of March 1. $5,000 cash was taken from the bank account for a bank loan payment. 2. Paid down a portion of the accounts payable with $1,000 cash. 3. Recorded cash sales of $5,500. 4. Received a delivery of supplies for $2,000; invoice due in 30 days. 5. Received a bill of $650 for maintenance on equipment. 6. Paid salaries to employees with $1,500 cash. 7. Withdrew $2,000 cash from the business. 8. Provided services worth $2,000 for clients on account. 9. Received $1,500 cash in advance of service to be done next month. 10. Collected $1,000 of the amount owing from clients. Chapter 2 Linking Personal Accounting to Business Accounting AP-1 3B (@OO @ @) Helga Stiles operates a hairstyling company. The opening balances from Helga's Hairstyling's financial records on March 1, 2016 is shown below Cash Equipment Supplies Building Accounts Payable Bank Loan Stiles, Capital $18,000 4,300 1,200 40,000 3,600 100,000 59,900 The following transactions took place during the month of March 1. $5,000 cash was taken from the bank account for a bank loan payment. 2. Paid down a portion of the accounts payable with $1,000 cash. 3. Recorded cash sales of $5,500. 4. Received a delivery of supplies for $2,000; invoice due in 30 days. 5. Received a bill of $650 for maintenance on equipment. 6. Paid salaries to employees with $1,500 cash. 7. Withdrew $2,000 cash from the business. 8. Provided services worth $2,000 for clients on account. 9. Received $1,500 cash in advance of service to be done next month. 10. Collected $1,000 of the amount owing from clients