Use first picture to answer second picture question E

#1 Part A: Enter the March transactions and adjustments in the accounting equation below. Create Jourmal Entries and T-Accounts on the next Page 1. March 1 Collected $6,000 of its accounts receivable from February sales. 2. March 1 Tm's Tams paid $1,000 for two months' rent beginning March 1 3. March 1 Borrowed $16,000 on a 4-month, 6% note payable. 4. March 1 Paid $18,000 cash for a truck that has an estimated useful life of 6 years with no salvage value. 5. March 6 Paid $4,300 of its accounts payable from the caps purchased in February. 6. March 20 Tim's Tams sold 300 baseball caps@ $10.00 each on account. The caps cost S6 4, March 1 Paid $18,000 cash for a truck 7. March 31 Tim's Tams declared and paid a s500 cash dividend to its shareholder. 8. March 31 Adjusted for insurance used during the month. Recall that on February 1, Tim's Tams paid $600 for 3 months of insurance coverage that began February 1 9. March 31 Adjusted for rent used during the month. Recall that Tim's Tams paid $1,000 for two months' rent. 10. March 31 Recorded one month's depreciation on the $18,000 truck that has a 6-year useful life. 11. March 31 Recorded interest on the $16,000, 4-month, 6% note payable for the month. Liabilities Shareholders' equity Assets Cash Other assets Contributed capital Retained earnings Beg. bal. ,055 6,000 AR 4,300 AP 6,000 common 3,555 retained stock 2,400 inventory 400 prepaid insurance G,000 2. 1,000 3. le,OGC 4.200 4,300 6. 200O Goo 8. 200 10. - 250 2S0 80