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Lars Linken opened Swifty Cleaners on March 1, 2020. During March, the following transactions were completed. Mar. Owner invested $17,700 cash in the company. 1
Lars Linken opened Swifty Cleaners on March 1, 2020. During March, the following transactions were completed. Mar. Owner invested $17,700 cash in the company. 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 $9,400 cash. 2 Paid $1,800 cash to cover rent from March 1 through May 31. 3 Paid $2,700 cash on a 6-month insurance policy effective March 1. 6 Purchased cleaning supplies for $2,360 on account. 14 Billed customers $4,370 for cleaning services performed. 22 18 Paid $590 on amount owed on cleaning supplies. 20 21 28 31 Paid $2,070 cash for employee salaries. Collected $1,890 cash from customers billed on March 14. Billed customers $4,960 for cleaning services performed. Paid $410 for gas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Owner withdrew $1,060 cash from the company. Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Equipment Notes Payable Accounts Payable Owner's Capital Owner's Drawings Service Revenue Maintenance and Repairs Expense Salaries and Wages Expense
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