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Gillian Shaw had worked in a carpet cleaning shop for 10 years. Last year, Tyler's wages were $20,000. Lately, Tyler had been unhappy with the

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Gillian Shaw had worked in a carpet cleaning shop for 10 years. Last year, Tyler's wages were $20,000. Lately, Tyler had been unhappy with the shop's owner. Convinced that he could run a carpet cleaning shop that did better work at a lower cost, Tyler decided to go into business for himself and opened SHAW'S CARPET CLEANERS SHOP on March 1, 2020 During March, the following transactions were completed: Mar. Invested $10,000 cash in the business. Purchased a used truck for $4,000, paying $1,000 cash and the balance on account. Purchased carpet dry cleaning equipment for $2,000 cash. 3 Purchased cleaning supplies for $1,200 on account 5 Paid $1,200 cash on a one-year insurance policy effective March 1. 14 Billed customers $4,800 for cleaning services. 18 Paid $1,500 cash on amount owed on truck and $500 on amount owed on cleaning supplies. 20 Paid $1,800 cash for employee salaries. 21 Collected $1,400 cash from customers billed on March 14. 28 Billed customers $2,500 for cleaning services. 31 Paid $200 for the monthly gasoline bill for the truck. 31 Withdrew $700 cash for personal use. The chart of accounts for Shaw's Carpet Cleaners contains the following accounts: No. 101 Cash No. 112 Accounts Receivable No. 126 Supplies No. 130 Prepaid Insurance No. 157 Truck No. 158 Accumulated Depreciation- Truck No. 159 Equipment No. 160 Accumulated Depreciation EquipmentNo. 201 Accounts Payable No. 212 Salaries and Wages Payable No. 301 Owner's Capital No. 306 Owner's Drawings No. 350 Income Summary No. 400 Service Revenue, No. 631 Supplies Expense No. 633 Gasoline Expense, No. 711 Depreciation Expense - Truck No. 716 Depreciation Expense - Equipment No. 722 Insurance Expense No. 726 Salaries and Wages Expense. As of March 31, 2020, the following business transactions occurred. (1) Unbilled revenue for services performed at March 31 was $500. Depreciation on equipment for the month was $300. (3) Depreciation on truck for the month, 10% on cost. (4) One-twelfth of the insurance expired. (5) An inventory count shows $250 of cleaning supplies on hand at March 31. (6) Accrued but unpaid employee salaries were $550. Required: Complete the Accounting Cycle from Journal entries to Post closing Trial Balance. (a) Journalize the above March business transactions. Explanation is required. (b) Post the March transactions to the respect ledger accounts. (c) Prepare the SHAW'S CARPET CLEANERS SHOP's Unadjusted Trial Balance as of March 31, 2020 (d) Prepare a completed 10-column worksheet (e) Prepare the SHAW'S CARPET CLEANERS SHOP's Adjusted Trial Balance as of March 31, 2020 (f) Prepare the three (3) following Financial Statement for March. (Ensure proper Titles and Dates) Income Statement Owner's Equity Statement Balance Sheet as of March 31, 2020 (g) Journalize the adjusting entries. (h) Post the adjusting entries to ledger accounts.(i) Journalize the closing process () Post the closing entries to ledger accounts. (i) Prepare a post-closing trial balance at March 31

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