During its first month of operation, the Leonard Landscaping Company, which, specializes in landscaping services, completed the following transactions. Date April 1 April 1 April 1 April Transactions Transaction Description Started a landscaping business by making a $50,000 deposit in a company bank account, in exchange for 5,000 shares of $10 par value common stock. Purchased insurance for the year and paid $3,600 cash. Paid monthly rental of $2,500 cash on a warehouse to store the landscaping equipment. Purchased landscaping equipment from Toro for $15,000, paying a downpayment of $10,000 cash, and $5,000 on account. April 3 April 5 i April 10 April 12 April 15 April 20 Purchased landscaping supplies of $750 on account. Paid $500 cash for advertising in local newspapers. Received $12,500 in cash for landscaping services provided. Paid $2,000 on account for landscaping equipment previously purchased on April 3rd. Provided landscaping services on account for $1.200. Received $10,500 in cash for landscaping services provided. Received $600 cash on account for landscaping services performed on April 15th. Received $4,000 cash for landscaping services provided. Paid a utility bill of $700 cash. Paid dividends of $3,000 cash The inventory of landscaping supplies showed a balance of $300 on hand at the end of the month. April 28 April 30 April 30 April 30 April 30 Use the following account descriptions for journal entries. Chart of Accounts Account Number Account Title Account Type Assets Normal Balance 115 117 119 144 Cash Accounts Receivable Prepaid Insurance Landscaping Supplies Landscaping Equipment Debit Debit Debit Debit Debit Liabilities 212 Accounts Payable Credit Stockholders Equity 311 313 Common Stock Dividends Credit Debit Revenue 411 Landscape Services Revenue Credit Expenses 511 512 514 517 Warehouse Rent Expense Advertising Expense Landscaping Supplies Expense Utility Expense Debit Debit Debit Debit REQUIREMENT #3: Prepare a trial balance for March in the space below. 1 Leondard's Landscaping Company Trial Balance April 30 Account Balance Title Debit Credit LOCO O O 2 3 Accouni 4 Number 5 6 7 8 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39
