In March, T. Carter established Carter Delivery Service. The account headings are presented below. Transactions completed during the month of March follow.

Assets = Liabilities + Owner's equity Accounts Prepaid Catering Accounts Cash + Receivable + Supplies + Insurance + Truck + Equipment = Payable + Capital - Drawing + Revenue - Expenses

Carter deposited $25,000 in a bank account in the name of the business. Bought a truck from Degroot Motors for $15,140, paying $5,140 in cash and placing the remainder on account. Bought equipment on account from Flemming Company, $3,450. Paid the rent for the month, $1,000, Ck. No. 3001 (Rent Expense). Sold services for cash for the first half of the month, $6,927. Bought supplies for cash, $301, Ck. No. 3002. Bought insurance for the truck for the year, $1,200, Ck. No. 3003. Received and paid the bill for utilities, $349, Ck. No. 3004. Received a bill for gas and oil for the truck, $218. Sold services on account, $3,603. Sold services for cash for the remainder of the month, $4,612. Paid wages to the employees, $3,958, Ck. Nos. 30053007. Carter withdrew cash for personal use, $1,250, Ck. No. 3008.