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Lars Linken opened Monty Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1 1 1 2 3 6 Issued 9,200
Lars Linken opened Monty Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1 1 1 2 3 6 Issued 9,200 shares of common stock for $13,800 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 $7.400 cash. Paid $1,500 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 $1,840 on account. Billed customers $3,400 for cleaning services performed. Paid $460 on amount owed on cleaning supplies. Paid $1,610 cash for employee salaries. Collected $1.470 cash from customers billed on March 14. Billed customers $3,860 for cleaning services performed. Paid $320 for gas and oil used in truck during month (use Maintenance and Repairs Expense). Declared and paid a $830 cash dividend. 14 18 20 21 28 31 31 The chart of accounts for Monty 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. Notes Payable V Accounts Payable V Common Stock Dividends Service Revenue Maintenance and Repairs Expense Salaries and Wages Expense
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