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help me post adjusting entries Lars Linken opened Flint Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1 Owner invested
help me post adjusting entries
Lars Linken opened Flint Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1 Owner invested $17,100 cash in the company. 1 1 2 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 $4,220 for cleaning services performed. Paid $570 on amount owed on cleaning supplies. 3 6 14 18 20 Paid $2,000 cash for employee salaries. 21 28 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). 31 31 Owner withdrew $1,030 cash from the company. Post adjusting entries to the T-accounts. Cash 3/1 17,100 3/1 9,100 3/1 6,600 3/2 1,800 3/21 1,820 3/3 2,700 3/18 570 3/20 2,000 3/31 400 3/31 1,030 3/31 Bal. 7,920 Accounts Receivable 3/14 4,220 3/21 1,820 3/28 4,790 Supplies 3/6 2,280 Prepaid Rent 3/2 1,800 V Prepaid Insurance 3/3 2,700Step by Step Solution
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