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Lars Linken opened Marigold Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1 1 1 2 3 6 14 18
Lars Linken opened Marigold Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1 1 1 2 3 6 14 18 20 21 28 31 31 Issued 8,800 shares of common stock for $13,200 cash. Borrowed $5,400 cash by signing a 6-month, 6%, $5,400 note payable. Interest will be paid the first day of each subsequent month. Purchased used truck for $7,000 cash. Paid $1,200 cash to cover rent from March 1 through May 31. Paid $2,100 cash on a 6-month insurance policy effective March 1. Purchased cleaning supplies for $1,760 on account. Billed customers $3,260 for cleaning services performed. Paid $440 on amount owed on cleaning supplies. Paid $1,540 cash for employee salaries. Collected $1,410 cash from customers billed on March 14. Billed customers $3,700 for cleaning services performed. Paid $310 for gas and oil used in truck during month (use Maintenance and Repairs Expense). Declared and paid a $790 cash dividend.
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