P4-5A Zoe Parker opened Fresh Step Carpet Cleaners, Ltd. on March 1. During March, Complete all stps in the following transactions were completed. LO 1, 2, 3, 4, 6) Shareholders invested 14,000 cash in the business in exchange for ordinary shares. Purchased used truck for 10,000, paying 3,000 cash and the balance on account. Purchased cleaning supplies for 1,200 on account. Paid E1,800 cash on one-year insurance policy effective March 1 Billed customers 4,500 for cleaning services performed. Paid 1,500 cash on amount owed on truck and 500 on amount owed on clean- ing supplies. Mar. 1 1 3 5 14 18 206 4 Completing the Accounting Cycle Mar. 20 21 28 31 31 Paid 1,800 cash for employee salaries. Collected 1,600 cash from customers billed on March 14 Billed customers 2,500 for cleaning services performed. Paid E320 for the monthly gasoline bill for the truck. Declared and paid 800 cash dividends. The chart of accounts for Fresh Step Carpet Cleaners, Ltd. contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation-Equipment, No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 311 Share Capital-Ordinary, No. 320 Retained Earnings, No. 332 Dividends, No. 350 Income Summary, No. 400 Service Revenue, No. 633 Gasoline Expense, No. 631 Supplies Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense. (a) Journalize and post the March transactions. Use page J1 for the journal and the three- column form of account. b) Trial balance 27,200 (b) Prepare a trial balance at March 31 on a worksheet. (c) Adjusted trial balance (c) Enter the following adjustments on the worksheet and complete the worksheet. (1) Unbilled revenue for services performed at March 31 was 1,000 (2) Depreciation on equipment for the month was 300. (3) One-twelfth of the insurance expired. (4) An inventory count shows 250 of cleaning supplies on hand at March 31 (5) Accrued but unpaid employee salaries were E690. (d) Net income 3,790 Total assets 23,880 (d) Prepare the income statement and a retained earnings statement for March and a clas- sified statement of financial position at March 31 (e) Journalize and post adjusting entries. Use page J2 for the journal. () Journalize and post closing entries and complete the closing process. Use page J3 for (g) Post-dosing trial balance 24,180 the journal. (g) Prepare a post-closing trial balance at March 31