Lars Linken opened Novak Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1 1 1 2 3 6 14 18 20 Issued 10,000 shares of common stock for $15,000 cash. Borrowed $6,200 cash by signing a 6-month,6%, $6,200 note payable. Interest will be paid the first day of each subsequent month. Purchased used truck for $7,700 cash. Paid $1,320 cash to cover rent from March 1 through May 31. Paid $2,220 cash on a 6-month insurance policy effective March 1. Purchased cleaning supplies for $1,800 on account Billed customers $3,600 for cleaning services performed. Paid $500 on amount owed on cleaning supplies. Paid $1,910 cash for employee salaries. Collected $1,500 cash from customers billed on March 14. Billed customers $4,100 for cleaning services performed. Paid $360 for gas and oil used in truck during month (use Maintenance and Repairs Expense). Declared and paid a $800 cash dividend. 21 28 31 31 The chart of accounts for Novak 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. Cash 3/1 > 15.000 3/2 3/31 800 3/31 Bal. 15590 Accounts Receivable 3/14 3600 3/28 V 4100 3/31 Bal v 7700 Sunnlies Supplies 3/6 1800 3/31 Bal. 1800 Prepaid Rent 3/2 1320 1320 Prepaid Insurance 3/3 2220 2220 Equipment 7700 3/1 3/31 Bal. Notes Payable 3/1 6200 3/31 Bal 6200 Notes Payable 3/1 6200 3/31 Bal. 6200 Accounts Payable 3/6 1800 3/31 Bal. 1800 Common Stock 3/1 15000 3/31 Bal. 15000 Dividends 3/31 800 3/31 Bal 800 Service Revenue 3/14 3600 3/28 4100 Service Revenue 3/14 3600 3/28 4100 3/31 Bal. 7700 Maintenance and Repairs Expense 3/31 360 3/31 Bal. 360 Salaries and Wages Expense 1910 3/20 3/31 Bal. 1910