Cissi Jean Oliver opened Cleaning Angels, Inc. on March 31, 2019. During April, the following transactions were completed:

Apr 1	Issued 5,000 shares of Cleaning Angels common stock for $13,000. Each share has a $1.00 par.
1	Borrowed $8,000 on a 2-year, 9% note payable.
1	Paid $9,020 to purchase used floor and window cleaning equipment from a company going out of business ($4,820 was for the floor equipment and $4,200 for the window equipment).
1	Paid $220 for April Internet and phone service.
1	Purchased cleaning supplies for $980 on account.
2	Hired 4 employees. Each will be paid $480 per 5-day work week (Monday-Friday). Employees will begin working on Monday, April 08.
2	Obtained insurance coverage for $9,840 per year. Coverage runs from April 1, 2019, through March 31, 2020. Cissi Jean paid $2,460 cash for the first quarter of coverage.
2	Discussions with the insurance agent indicated that providing outside window cleaning services would cost too much to insure. Cissi Jean sold the window cleaning equipment for $4,000 cash.
15	Billed customers $3,900 for cleaning services performed through April 12, 2019.
15	Received $600 from a customer for 4 weeks of cleaning services to begin on April 22, 2019.
18	Paid $300 on amount owed on cleaning supplies.
19	Paid $3.25 per share to buy 300 shares of Cleaning Angels, Inc common stock from a shareholder who disagreed with management goals. The shares will be held as treasury stock.
22	Billed customers $4,300 for cleaning services performed through April 19.
26	Paid cash for employees wages for 2 weeks (April 8-12 and 15-19).
26	Collected $2,500 cash from customers billed on April 15.
29	Paid $220 for Internet and phone services for May.
29	Declared and paid a cash dividend of $0.10 per share.
30	Received notice that a customer who was billed $200 for services performed April 8 has filed for bankruptcy. Cleaning Angels, Inc does not expect to collect any portion of this outstanding receivable. (Cleaning Angels will follow the GAAP Guidelines for uncollectible accounts.)

Adjusting Data:

A. Services performed for customers through April 30, 2019, but unbilled and uncollected were $3,800. B. Cleaning Angels used the allowance method to estimate bad debts. Cleaning Angels estimates that 3% of its month-end receivables will not be collected. C. Record 1 month of depreciation for the floor equipment. Use the straight-line method, an estimated life of 4 years, and $500 salvage value. D. Record 1 month of insurance expense. E. An inventory count shows $500 of supplies on hand at April 30. F. One week of services were performed for the customer who paid in advance on April 15. G. Accrue for wages owed through April 30, 2019. H. Accrue for interest expense for 1 month. I. Cissi Jean estimates a 20% income tax rate. (Hint: Prepare an income statement up to income before taxes to help with the income tax calculation.)

Instructions:

1. Journalize the April transactions.
2. Post to ledger accounts.
3. Prepare a Trial Balance as of April 30, 2019.
4. Journalize the adjustments. (Round all amounts to whole dollars.)
5. Post adjusting entries to the ledger accounts.
6. Prepare an adjusted trial balance.
7. Journalize the closing entries.

Possible account titles to use, please:

Accounts Payable	Loss on Disposal of Equipment
Accounts Receivable	Notes Payable
Allowance for Doubtful Accounts	Paid in Capital in Excess of Par/Com
Accumulated Depreciation/Building	Paid in Capital in Excess of Par/Pref
Accumulated Depreciation/Equip	Preferred Stock
Bad Debt Expense	Prepaid Insurance
Bonds Payable	Prepaid Rent
Building	Prepaid Utilities
Cash	Rent Expense
Cash Dividends	Retained Earnings
Common Stock	Salaries and Wages Expense
Cost of Goods Sold	Salaries and Wages Payable
Depreciation Expense	Sales Discounts
Dividends Payable	Sales Returns and Allowances
Equipment	Sales Revenue
Gain on Disposal of Equipment	Selling Expenses
Income Tax Expense	Service Revenue
Income Tax Payable	Supplies
Income Summary	Supplies Expense
Insurance Expense	Treasury Stock
Interest Expense	Unearned Service Revenue
Interest Payable	Utilities Expense
Inventory	Utilities Payable
Land