Question Completion Status: Part 1 20 Marks Prepare in proper format the Journal Entries for March 2021, the first month of Opeartions for the W.E.R.E. Part 2 10 Marks Prepare the Trial Balance in the proper format , note you will need the T accounts. 1-Mar 1-Mar Owners Started the Commpany with a $50,000 Cash injection and Warehouse with Fair value of $200,000 Bank revolving facility loan of $100,000 was granted by RBC at 6% per year compounded monthly Paid $10,000 cash for a used truck Signed a contract with a customer to do a $15,000 job beginning in June 1-Mar 1-Mar 5-Mar purchased supplies on account from Supplies Inc for $5,500. 10-Mar Collected fees of $12,000 for work to be performed in April and June 11-Mar Billed a client $20,000 for services performed today 14-Mar Paid $200 for advertising in The News that ran in the first two weeks 14-Mar Paid 50% of the amount due to the supplier from Mar 5 supplier. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit Question Completion Status: 11-Mar Billed a client $20,000 for services performed today 14-Mar Paid $200 for advertising in the News that ran in the first two weeks Paid 50% of the amount due to the supplier from Mar 5 sup Siier. 14-Mar 16-Mar 18-Mar 20 - Mar Paid $10000 for employees payroll salary Collect $15,000 from credit sales on 11 March A talented Sales Manager joined the group at a salary of $5000 monthly. Everyone is excited for such a talent joining the team. On April 30, two weeks service sales amounted to $500,000, 60% were on credit and to be collected by April 20. Income tax expense of $13,000 were paid 30-Mar 30-Mar 30-Mar 31-Mar Paid the monthly intrest rate charge of the March 1st Bank Loan. Recorded $10000 for employess payroll salary, amount was paid in April 2nd. Declared $4,000 of dividends to the owners Monthly sales amounted to $500,000, 60% were on credit and to be collected by 31-Mar 1. Mar Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit Question Completion Status: 31-Mar Recorded $10000 tor employess payroll salary, amount was paid in April 2nd. 31-Mar Declared $4,000 of dividends to the owners Monthly sales amounted to $500,000, 60% were on credit and to be collected by 31-Mar April 15 of this year For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIVS Paragraph Arial 10pt TXO a 5 E v !!! !!! A x x, TTT ROC +] V V T X ! 99 92 | (:) Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit
