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Current Attempt in Progress At the beginning of March, Blossom Software Company had Cash of $11,500, Accounts Receivable of $17,500, Accounts Payable of $3,800, and
Current Attempt in Progress At the beginning of March, Blossom Software Company had Cash of $11,500, Accounts Receivable of $17,500, Accounts Payable of $3,800, and G. Blossom, Capital of $25,200. During the month of March, the following transactions occurred. 1. Purchased equipment for $22,500 from Digital Equipment. Paid $4,500 cash and signed a note payable for the balance. 2. Received $11,500 from customers for contracts billed in February. 3. Paid $2,800 for March rent of office space. 4. Paid $2,300 of the amounts owing to suppliers at the beginning of March. 5. Provided software services to Kwon Construction Company for $6,500 cash. 6. Paid BC Hydro $900 for energy used in March. 7. G. Blossom withdrew $4,500 cash from the business. 8. Paid Digital Equipment $1,890 on account of the note payable issued for the equipment purchased in transaction 1. Of this, $90 was for interest expense. 9. Hired an employee to start working in April. 10. Incurred advertising expense on account for March, $1,300. Prepare a tabular analysis of the above transactions. The first row contains the amounts the company had at the beginning of March. (If a transaction causes a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parenthesis) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Prepare a tabular analysis of the above transactions. The first row contains the amounts the company had at the beginning of March. (lf a transaction causes a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parenthesis) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
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