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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.
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.
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