Download A Alt RECORDING BUSINESS TRANSACTIONS Jim's Lawn Care, Inc. 1. Jim Hamilton began a lawn care business in May by forming a corporation and depositing $800 in a business bank account, 2. Purchased lawnmowers and other lawn equipment on account, $1,000. 3. Paid cash for supplies, $50. 4. Performed lawn care services for credit customers and billed them $700. 5. Received $700 cash from the customers billed in #4. 6. Paid $1,000 cash for the lawn equipment purchased in 2. 7. Paid for an advertisement in a local newspaper, $150. 8. Performed lawn care services for cash customers and immediately received $420. 9. Paid wages to a part-time assistant, $85. 10. Performed lawn care services for credit customers and billed them $600. 11. Received an invoice from Gas-n-Go for gasoline purchased on account during May, $110. The invoice will not be paid until next month. 12. At the end of May, the business paid Jim a dividend of $100. 1. Recording Business Transactions Jim's Lawn Care Assets Liability Acco Supplies Equipment Accounts Recehale Payale Cash Equity Stockholden Equity Explanation Dep cash into business Bal 0 0 Hal 0 Inercer 0 0 Ral 0 . Paid ad expense 0 Inc ol Ral Paide op 10 loc tie Received will far o Paldi 12 0 0 Aste 0 Lates Equity o Lplus 0