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(Maibrit's Bike's began operations in April 2017 and had the following transaction:s a) Owner invested $120,000 cash and a truck worth S36,000 in exchange for
(Maibrit's Bike's began operations in April 2017 and had the following transaction:s a) Owner invested $120,000 cash and a truck worth S36,000 in exchange for stock. b) Paid S84,000 cash for 6 months' rent. c) Purchased $300,000 of bicycle inventory on credit. d) Sold bicycles for cash of S507,000. The cost of the bikes sold was $180,000 e) Sold and invoiced bicycles to a client for $95,400. The cost of the bikes sold was $48,000 f) Paid $90,000 cash for an advertising campaign in connection with Tour de France. The campaign g) h) i) i) k) will run over the next two of months Paid S24,000 in cash for supplies to have on hand for bike repairs Collected $60,000 from accounts receivable Paid for bikes purchased on credit in Transaction c above Paid cash dividends of $3,000 Received $6,000 cash from a customer as a deposit for a custom bicycle to be built. Required Record each transaction a) through k) in the financial statements effects template, below Income Statement Balance Sheet Lab EarnedRev- Net Cash Asset Contrib. Transaction Noncash Assets Capital S enue a) b) c) d) e) g) h)
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