Answered step by step
Verified Expert Solution
Question
1 Approved Answer
ease journalize the March transactions -/25 Question 2 of 4 View Policies Current Attempt in Progress Lars Linken opened Flint Cleaners on March 1, 2022.
ease journalize the March transactions
-/25 Question 2 of 4 View Policies Current Attempt in Progress Lars Linken opened Flint Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1 1 1 2 3 6 Issued 11.400 shares of common stock for $17,100 cash. Borrowed $6,600 cash by signing a 6-month, 6%, $6,600 note payable. Interest will be paid the first day of each subsequent month Purchased used truck for $9,100 cash. Paid $1,800 cash to cover rent from March 1 through May 31. Paid $2,700 cash on a 6-month insurance policy effective March 1. Purchased cleaning supplies for $2.280 on account Billed customers 54.220 for cleaning services performed. Paid $570 on amount owed on cleaning supplies. Paid $2.000 cash for employee salaries, Collected $1,820 cash from customers billed on March 14. Billed customers $4.790 for cleaning services performed. Paid $400 for gas and oil used in truck during month (use Maintenance and Repairs Expense). Declared and paid a $1.030 cash dividend. 18 20 21 28 31 31 The chart of accounts for Flint Cleaners contains the following accounts: Cash Accounts Receivable. Supplies Prepaid Insurance Prepaid Rent Equipment. Accumulated Depreciation Equipment Accounts Payable. Salaries and Wages Payable. Notes Payable, Interest Payable. Common Stock Retained Earnings. Dividends. Income Summary Service Revenue Maintenance and Repairs Expense Supplies Expense, Depreciation Expense Insurance Expense Salaries and Wages Expense Rent Expense, and interest Experise Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started