Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1 of 1 View Policies Current Attempt in Progress Lars Linken opened Pina Cleaners on March 1 , 2 0 2 2 . During

Question 1 of 1
View Policies
Current Attempt in Progress
Lars Linken opened Pina Cleaners on March 1,2022. During March, the following transactions were completed.
Mar.
1 Owner invested $14,400 cash in the company.
1
Borrowed $6,000 cash by signing a 6-month, 6%,$6,000 note payable. Interest will be paid the first day of each subsequent month.
1 Purchased used truck for $7,700 cash.
2 Paid $1,500 cash to cover rent from March 1 through May 31.
3 Paid $2,400 cash on a 6-month insurance policy effective March 1.
6 Purchased cleaning supplies for $1,920 on account.
14 Billed customers $3,550 for cleaning services performed.
18 Paid $480 on amount owed on cleaning supplies.
20 Paid $1,680 cash for employee salaries.
21 Collected $1,540 cash from customers billed on March 14.
28 Billed customers $4,030 for cleaning services performed.
31 Paid $340 for gas and oil used in truck during month (use Maintenance and Repairs Expense).
31 Owner withdrew $860 cash from the company.
(a)
Journalize the March transactions. (Credit account titles are automatically indented when the amount is entered. Do not
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Harold M. Sollenberger, Arnold Schneider, Lane K. Anderson

9th Edition

0538842822, 978-0538842822

More Books

Students also viewed these Accounting questions

Question

=+3. Who are the brand's competitors?

Answered: 1 week ago

Question

11.7 Discuss competency-based pay.

Answered: 1 week ago