Dorsey Landscape , Inc Accounting Transactions for the Period of April 1 2016 - April 30 2018 Description April 1 2016 The stockholders purchase 7 500 shares of $10 par value stock Total cash received is $75 000 April 1 2016 The company took a $30 090 business loan from a local bank The loan terest only " loan for three years at a fixed rate of 1095 A ballon pa on payment of the nicipal will be due in 3 years . The montly interest payment is due by the 10 th of the following month April 1 2016 Management rents a combination office and garage facility for $1 0 00 per month and pays months ( $4 000 ) in advance by cash in addition to a $1 500 security deposit April 1 2016 urchased a truck valued at $45 000 with a $15 000 down payment and a 4 - year $30 090 note payable with an annual interest rate of 59 6 The truck has a 5 year useful life and no salvage value The monthly payment including principal and interest is $690.38 April 1 2016 Purchased used equipment and tra trailers for $25 000 cash . The equipment and trailers have a 5 - year useful life and no salvage valu April 2 2016 Purchased on account Lawn & Garden Supplies in the amount of $6 0OO from Wintergreen Garden Center April 4 . 2016 Dorsey contracted acted with the local businesses Preston Hill B & B and Grace's Diner to provide monthly landscaping service at a rate eend of e of $650 per month Dorsey Landscape will bill the businesses at the end of each month April 6 . 2016 Purchased $500 of office supplies on account from count from ABC Office Supply April 8 . 2016 Paid invoice from Insurance company for 4 months of coverage beginning April 1 2015 for a total of 51.600 April 10 2016 Receipts of cash from landscaping services in the amo unit of $5 200 were deposited to bank April 14 2016 Paid 1 12 of amount owed to Wintergreen Garden Center April 16 2016 Paid $1 200 in wage expense for the period April 1 - April 15 2015 . Apit 19 2016 Paid ABC Office Supply invoice for purchases on April 6 2016 April 20 2016 Received 57 500 in cash and checks for landscaping services rendered April 24 2016 Returned $500 worth of lawn and garden supplies to Wintergreen Garden Center and received credit on account April 25 2016 Received $1 060 advance deposit from customer for landscaping work to be stared in May 2016 April 28 2016 Paid remaining bal ance owed to Wintergreen Garden Center April 30 2016 Truck Payment # 1 - Total $69098 Principal = $565 88 Interest = $125 00 April 30 2016 Paid $1 490 in wages expense for the period April 16 - April 30 2016 April 30 2016 Pay credit card in full with the following charges incurred in April 2016 Gasoline - $625 Equipment Maintenance - $375 Dues - $150 : Uniforms - $425 Advertising $375 Postage $100 April 30 2016 Sent invoices to Grace's Diner and Preston Hill B & B for monthly lawn service April 30 2016 Paid dividends to shareholders in the amount of $500