Listed below are the transactions of Clean-as-Clean Cleaners (CCC) Corp. for the month of March 2020, its first month of operations after being formed by Ashtyn. Mar. 1 Ashtyn invested $100,000 cash in CCC Inc. in exchange for common stock. 2 Purchases dry cleaning equipment on account from Heavy Equipment Co. for $22,000. 2 Paid $1,200 for one year dry cleaning equipment insurance. The amount was recorded as Insurance Expense (debit) and Cash (credit) 3 Pays rent for office space, $2,000 for the month. 4 Employs a receptionist, Jose, to work at the front desk for a monthly salary of $1,500 to be paid at the end of each month. 5 Purchases dry cleaning supplies for cash, $3,000, 9 Receives cash of $3,500 from patients for dry cleaning clothes picked up 10 Pays miscellaneous business expenses, $500. 15 Bills various on account type customers $8,000 for dry cleaning services performed since March i. Received $2,000 worth of cleaning supplies to be paid for on April 2. 16 18 Pays Heavy Equipment Co. on account, $15,000. 20 Receives $6,500 from customers on account. 30 Bills on account customers $9,800 for last 15 days cleaning. 30 Pays the following expenses in cash: salaries $1,500; miscellaneous office expenses $100. 30 CCC declared and paid a $500 cash dividend to its shareholders. 30 Purchased Michelle Wie's property for $78,000. CCC Company paid $25,000 in cash and issued a note for the difference to be paid in one year with no interest. The price consists of land $10,000 and a building worth $68,000. (Make one compound entry) Requirements: 1. Record the transactions above in CCC's Ledger, balance the accounts, and prepare a trial balance. 2. And then prepare adjusting journal entries to take the following into account: The equipment depreciates $2,000 per month. Dry cleaning supplies used during March amounted to $4,000. Expired insurance Interest on the note . . 3. Answer the following questions: a. How much is net income for March 2020? b. What is the balance of retained earnings? c. How much are total assets? d. How much are total liabilities? e. How much is total equity? 1. Write out the accounting equation and enter the appropriate totals in the equation. Totals only... do not list accounts. g. Which accounts will be closed? List them