Dorsey Landscape, Inc. Accounting Transactions for the Period of April 1, 2016-April 30, 2016 ate 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 S30,000 business loan from a local bank. The loan is "interest only" loan for three years at a fixed rate of 10%. A ballon payment of the principal will be due in 3 years. The montly interest payment is due by the 10th of the following month April 1, 2016 Management rents a combination office and garage facility for $1,000 per month and pays 4 months ($4,000) in advance by cash in addition to a $1,500 security deposit April 1, 2016 Purchased a truck valued at $45,000 with a $15,000 down payment and a 4-year $30,000 note payable with an annual interest rate of 5%. The truck has a 5-year useful life and no salvage value The monthly payment including principal and interest is $690.88 April 1, 2016 Purchased used equipment and trailers for $25,000 cash. The equipment and trailers have a 5-year useful life and no salvage value April 2, 2016 Purchased on account Lawn & Garden Supplies in the amount of $6,000 from Wintergreen Garden Center April 4, 2016 Dorsey contracted with two local businesses, Preston Hill B&B and Grace's Diner to provide monthly landscaping service at a rate April 6, 2016 Purchased $500 of office supplies on account from ABC Office Supply April 8, 2016 Paid invoice from Insurance company for 4 months of coverage beginning April 1, 2015 of $650 per month. Dorsey Landscape will bill the businesses at the end of each month. for a total of $1,600 April 10, 2016 April 14, 2016 April 16, 2016 Aprl 19, 2016 April 20, 2016 April 24, 2016 Receipts of cash from landscaping services in the amount of $5,200 were deposited to bank. Paid 1/2 of amount owed to Wintergreen Garden Center Paid $1,200 in wage expense for the period April 1-April 15, 2015. Paid ABC Office Supply invoice for purchases on April 6, 2016. Received S7,500 in cash and checks for landscaping services rendered Returned $500 worth of lawn and garden supplies to Wintergreen Garden Center and received credit on account