Question
Journalizing Transactions in Template, Journal Entry Form, and T-Accounts Minute Maid, a firm providing housecleaning services, began business on April 1, 2015. The following transactions
Journalizing Transactions in Template, Journal Entry Form, and T-Accounts Minute Maid, a firm providing housecleaning services, began business on April 1, 2015. The following transactions occurred during the month of April.
April 1 A. Falcon invested $9,000 cash to begin the business in exchange for common stock. April 2: Paid $2,850 cash for six months lease on van for the business. April 3: Borrowed $10,000 cash from bank and signed note payable agreeing to repay it in 1 year plus 10% interest. April 3: Purchased $5,500 of cleaning equipment; paid $2,500 cash with the remainder due within 30 days. April 4: Paid $4,300 cash for cleaning supplies. April 7: Paid $350 cash for advertisements to run in newspaper during April. April 21: Billed customers $3,500 for services performed. April 23: Paid $3,000 cash on account to cleaning equipment suppliers (see April 3). April 28: Collected $2,300 cash from customers on their accounts. April 29: Paid $1,000 cash for dividends. April 30: Paid $1,750 cash for April wages.
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