Dakota Skye opened Clean 4 U, Inc. on March 1, 2023. During March, the following transactions were completed:

Mar. 1	Issued 5,000 shares of Clean 4 U, Inc. Common Stock for $15,000. Each share has a $1.50 par.
1	Paid $250 to BeamSpeed for internet and phone service for March.
1	Borrowed $8,000 on a 2-year, 7.4% note payable.
2	Paid $9,500 to purchase used floor and window cleaning equipment from a company going out of business ($4,850 was for the floor equipment and $4,650 for the window equipment).
3	Discussions with an insurance agent indicated that providing outside window cleaning services would cost too much to insure. Dakota sold the window cleaning equipment for $4,485 cash.
3	Negotiated insurance coverage at a yearly rate of $12,840. Clean 4 U paid $3,210 cash for three months of coverage.
3	Hired 5 employees. Each will be paid $650 per 5-day work week (Monday-Friday). Employees will begin working on Monday, March 6th .
4	Purchased cleaning supplies for $1,050 on account.
4	Paid $3.50 per share to buy 250 shares of Clean 4 U, Inc Common Stock from a shareholder who disagreed with management goals. The shares will be held as treasury stock.
7	Received $750 from a customer for 4 weeks of cleaning services to begin on March 13, 2023.
7	Paid $500 on amount owed on cleaning supplies.
13	Paid for employees wages for the week of March 6-10.
13	Billed customers $6,400 for cleaning services performed for March 6-10.
15	Purchased additional cleaning supplies for $700.
20	Paid employees wages for the week of March 13-17.
20	Billed customers $5,900 for cleaning services performed the week of March 1317.
21	Collected $4,200 cash from customers billed on March 13.
23	Paid $250 to BeamSpeed for services for April.
27	Paid employees wages for the week of March 20-24
27	Billed customers $6,100 for cleaning services performed the week of March 20-24.
28	Declared and paid a cash dividend of $0.12 per share.
29	Collected $7,250 from customers billed on March 13 & 27.
29	Paid $550 on amount owed for supplies.
30	Received notice that a customer who was billed $200 for services performed March 10th has filed for bankruptcy. Clean 4 U, Inc does not expect to collect any portion of this outstanding receivable. (Clean 4 U will follow the GAAP Guidelines for uncollectible accounts.)

Instructions:

1. Journalize the March transactions.
2. Post to ledger accounts. (HintCalculate Balances to this point )
3. Prepare a Trial Balance as of March 31, 2023.

Adjustment Data:

A. Services performed for customers through March 31, 2023, but unbilled and uncollected were $5,950.

B. Clean 4 U used the allowance method to estimate bad debts. Clean 4 U 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 5 years, and $500 salvage value.

D. Record 1 month of insurance expense.

E. An inventory count shows $650 of supplies on hand on March 31^st.

F. Record services performed for the customer who paid in advance on March 7th.

G. Accrue for wages owed through March 31^st.

H. Accrue interest expense for one month.

Instructions:

1. Journalize the adjusting entries. (Round all amounts to whole dollars.)
2. Post the adjusting entries to the ledger accounts. (HintCalculate new balances where needed )
3. Prepare an Adjusted Trial Balance as of March 31, 2023.
4. Journalize the closing entries. (HintUse your Adjusted Trial Balance for accounts and amounts )
5. Post the Closing Entries to the ledger accounts.
6. Prepare a Post-Closing Trial Balance on March 31, 2023.