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Mar. 1 I Issued 11,200 shares of common stock for $16,800 cash. 1 Borrowed $6,600 cash by signing a 6-month, 6%,$6,600 note payable. Interest will
Mar. 1 I Issued 11,200 shares of common stock for $16,800 cash. 1 Borrowed $6,600 cash by signing a 6-month, 6%,$6,600 note payable. Interest will be paid the first day of each subsequent month. 1 Purchased used truck for $9,000 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 $2,240 on account. 14 Billed customers $4,140 for cleaning services performed. 18 Paid $560 on amount owed on cleaning supplies. 20 Paid $1,960 cash for employee salaries. 21 Collected $1,790 cash from customers billed on March 14. 28 Billed customers $4,700 for cleaning services performed. 31 Paid $390 for gas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Declared and paid a $1,010 cash dividend. The chart of accounts for Culver Cleaners contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Prepaid Rent, Equipment, Accumulated DepreciationEquipment, Accounts Payable, Salaries and Wages Payable, Notes Payable, Journalize the March transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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