Following is a list of transactions entered into during the first month of operations of Gardener Corporation, a new landscape service. April Transactions: April 1 4 Articles of incorporation are filed with the state, and 100,000 shares of common stock are issued for $100,000 in cash. A six-month promissory note is signed at the bank. Interest at 9% per annum will be repaid in six months along with the principal amount of the loan of $50,000. Land and a storage shed are acquired for a lump sum of $80,000. On the basis of an appraisal, 25% of the value is assigned 8 to the land and the remainder to the building. 10 Mowing equipment is purchased from a supplier at a total cost of $25,000. A down payment of $10,000 is made, with the remainder due by the end of the month. Customers are billed for services provided during the first half of the month. The total amount billed of $5,500 is due within 18 ten days. 27 The remaining balance due on the mowing equipment is paid to the supplier. The total amount of $5,500 due from customers is received. 28 30 Customers are billed for services provided during the second half of the month. The total amount billed is $9,850. 30 Salaries and wages of $4,650 for the month of April are paid. Required: Prepare in journal form the entry to record each transaction. Chart of Accounts ASSETS REVENUE 111 Cash 411 Service Revenue 121 Accounts Receivable 141 Inventory EXPENSES 152 Prepaid Insurance 500 Cost of Goods Sold 154 Supplies 521 Salary and Wage Expense 161 Land 532 Utilities Expense 171 Buildings 533 Insurance Expense 174 Mowing Equipment 534 Rent Expense 179 Accumulated Depreciation 537 Supplies Expense 541 Depreciation Expense LIABILITIES 545 Bad Debt Expense 211 Accounts Payable 551 Advertising Expense 231 Salaries Payable 559 Miscellaneous Expenses 235 Notes Payable 810 Interest Expense 261 Income Taxes Payable 910 Income Tax Expense EQUITY 311 Capital Stock 331 Retained Earnings DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY REVENUE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 REVENUE EXPENSES NET INCOME 15 116 17 18 19 20