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enu Transaction Entries Thoro Clean, a firm providing house-cleaning services, began business on April 1. The following accounts in its general ledger are needed to

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enu Transaction Entries Thoro Clean, a firm providing house-cleaning services, began business on April 1. The following accounts in its general ledger are needed to record the transactions for April: Cash; Accounts Receivable; Supplies; Prepaid Van Lease; Equipment; Accounts Payable; Notes Payable Common Stock Retained Earnings; Dividends; Cleaning Fees Earned; Wage Expense; Advertising Expense; and Fuel Expense. a. Using the accounting equation, record each of the transactions in columnar format. b. Use journal entries to record the following transactions for April in the general journal. Randy Storm invested $17,000 cash to begin the business; he received common stock for his investment. April 1 2 Paid six months' lease on a van, $3,650. Borrowed $10,800 from a bank and signed a note payable agreeing to repay the $10,800 in one year plus 10 percent interest 3 Purchased $6.300 of cleaning equipment paid $3300 down with the remainger due within 30 days. 4 Purchased cleaning supplies for $5,100 cash. 7 Paid $1,150 for newspaper advertisements to run during April. 21 Billed customers for services, $6,500 23 Paid $1,800 on account to cleaning equipment firm (see April 3 transaction). 28 Collected $3,100 from customers on account. 29 Randy Storm received a $1,800 cash dividend 30 Paid wages for April, $2.550 30 Paid service station for gasoline used during April, $895. 2 MacBook A E Menu Accounts Receivable Cash Supplies Prepaid Van + Eq Lease June 1 2 MacBook Air O Gianna Napoli Meru Debit Credit Date Description April1 Owner purchased common stock for cash. ged, all of the f or directly acc increased awa you must en Pleas, Genera ng County Cou to the appropria Paid six months' lease on van. ourts and is dee varranties, expre r rulings that ha ume no liability e examined in th e website. We Borrowed money from bank for one year, interest rate of 10%. Cash Purchased equipment, made down payment with balance due in 30 days t for a Pra in.u 2. MacBook Air O Gianna Napoli Menu Purchased supplies for cash. ged or inc r, y ng C to th Paid for April advertising 21 Billed customers for services. e ex he w 23 Payment on actount 28 Collections from customer on account osit 2 account 29 Shareholders are paid a cash dividend 30 Paid wages for April. 30 Paid for gasoline used in April. Save Answers Previous page Next page its 2

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