Laura Eddy opened Eddys Carpet Cleaners on March 1, 2024. In March the following transactions were completed:

Mar 1	Laura invested $10,000 cash in the business.
1	Purchased a used truck for $6,500, paying $1,500 cash and signing a note payable for the balance.
3	Purchased supplies for $1,200 on account.
5	Paid $1,200 on a one-year insurance policy, effective March 1.
12	Billed customers $4,800 for cleaning services.
18	Paid $500 of amount owed on supplies.
20	Paid $1,800 for employee salaries.
21	Collected $1,400 from customers billed on March 12.
25	Billed customers $2,500 for cleaning services.
31	Paid $375 for repairs on the truck.
31	Withdrew $900 cash for personal use.

A)Journalize and post the March transactions.

B)Prepare a trial balance at March 31.

C)Journalize and post the following adjustments:

The truck has an estimated useful life of the five years.

One-twelfth of the insurance expired.

An inventory count shows $400 of supplies on hand at March 31

Accrued but unpaid employee salaries were $500.

The note payable has a 4.5% annual interest rate.

Unbilled cleaning services at March 31 were $500.

D)Prepare an adjusted trial balance.

E)Prepare the income statement and statement of owners equity for March, and a classified balance sheet at March 31, 2024. Of the note payable, $2,000 must be paid by February 28, 2025.

F)Journalize and post the closing entries.

G)Prepare a post-closing trial balance at March 31.

Do companies need to make adjusting and closing entries at the end of every month?