Mr. John opened John's Carpet Cleaners on March 1, 2021. During March, the following transactions were completed. Mar. 1: Invested $15,000 cash in the business. Mar. 1: Purchased used Lorry for $6,000, paying $3,000 cash and the balance on account. Mar. 3: Purchased cleaning supplies for $1,500 on account. Mar. 5: Paid $1,200 cash on one-year insurance policy effective March 1. Mar. 14: Billed customers $4,800 for cleaning services. Mar. 18: Paid $1,500 cash on amount owed on Lorry and $500 on amount owed on cleaning supplies. Mar. 20: Paid $2,000 cash for employee salaries. Mar. 21: Collected $2,800 cash from customers billed on March 14. Mar. 28: Billed customers $2,500 for cleaning services. Mar. 31: Paid advertising expenses of $500. Mar. 31: Withdrew $1000 cash for personal use.

Requirements:

Journalize the March transactions.

Prepare necessary Ledger Accounts.

Prepare a Trial Balance at March 31.

Journalize the following adjustments and prepare an adjusted Trial Balance: Earned but unbilled revenue at March 31 was $500.. Depreciation on equipment for the month was $200.. One-twelfth of the insurance expired.. An inventory count shows $400 of cleaning supplies on hand at March 31.. Accrued but unpaid employee salaries were $700..

Prepare the Income Statement and Owners Equity Statement for March and a classified Financial Position at March 31.

Journalize Closing Entries.