I am stating the transactions for the month of April and for the month of May, I need help in preparing a balance sheet for both the months, can someone help me with that?
Month of April Acquired $55000 to establish the company of which 533000 was received from an initial investment through the issue of common stock to themselves and 522000 from a bank loan by signing a note. The entire note is due in 5 years and has T per cent annual interest rate. Interest is payable in cash on March 31 of each year. Paid $4200 [represents 3 months] in advance rent for a oneyear lease on kitchen space. April Paid $35000 to purchase a refrigerator. The refrigerator is expected to have a useful life of 5 years and a salvage value of $5000 at the end of 5 years. April- Purchased supplies for $500 for cash. April Received $?00 cash as an advance payment from a client to he served in May. April Recorded sale to customers. lCash receipts 1were 51'00 and invoices for sales on account were 10 51500. ril' Paid $1460 cash for employee semimonthly salaries. April Collected $400 frpm accounts receivable. 1!- "D 1 U1 April- Received monthly utility Ioills amounting to $340. The bills are to be paid in May. April Paid advertising expense for advertisements run during April, 5260. Recorded services to customers . Cash receipts were 51300 and invoices for services on account were $1300. Paid $1460 cash for employer salaries M M ll Date May Collected $19 cash from customer accounts receivable Ell May Purchased supplies on account that cost $350 02 May Recorded services of catering to customers and cash receipts were $510 and invoices for '3? services on account were SIB-DD Received $7130 cash as an advance payment on April '9 from a client to be served in May and completed the job on 3th May. or m5 \"'5 Paid the utility company for the monthly utility bills that had been received in the previous month, 5340 May Paid $1303 cash for employee salaries 15 |_. 95 \"F Purchased a oneyear insurance policy for $12M} on the refrigerator Il \"E *1: Paid $220 on the account payable that was established when supplies were purchased on May 2. May Paid a $4lcash dividend to the stockholders Received monthly utility bills amounting to $360. The bills would be paid in the month of June |_; a? \"F 2? May Recorded revenues to customers. Cash receipts were $90G, and invoices 'ior sales on account were 5140'.) May Paid $15130 cash for employee salaries 31 In\" B \"F