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Lars Linken opened Ayayai Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1 Issued 12,000 shares of common stock for
Lars Linken opened Ayayai Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1 Issued 12,000 shares of common stock for $18,000 cash. 1 Borrowed $7,200 cash by signing a 6-month, 6%, $7,200 note payable. Interest will be paid the first day of each subsequent month. 1 Purchased used truck for $9,600 cash. 2 Paid $1,800 cash to cover rent from March 1 through May 31. 3 Paid $3,000 cash on a 6-month insurance policy effective March 1. 6 Purchased cleaning supplies for $2,400 on account. 14 Billed customers $4,440 for cleaning services performed. 18 Paid $600 on amount owed on cleaning supplies. 20 Paid $2,100 cash for employee salaries. 21 Collected $1,920 cash from customers billed on March 14. 28 Billed customers $5,040 for cleaning services performed. 31 Paid $420 for gas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Declared and paid a $1,080 cash dividend. The chart of accounts for Ayayai Cleaners contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Prepaid Rent, Equipment, Accumulated Depreciation Equipment, Accounts Payable, Salaries and Wages Payable, Notes Payable, Interest Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense, Rent Expense, and Interest Expense. Journalize the March transactions. (Credit account titles are automatically indented when the amount is entere presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for th Date Account Titles and Explanation Debit Credit 4 4
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