Your Answer Correct Answer (Used) Your answer is partially correct. Journalize the following adjustments. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) 1. Services performed but unbilled and uncollected at March 31 was $150. 2. 3. Depreciation on equipment for the month was $190. One-sixth of the insurance expired. An inventory count shows $210 of cleaning supplies on hand at March 31. Accrued but unpaid employee salaries were $820. 4. 5. 6. One month of the prepaid rent has expired. One month of interest expense related to the note payable has accrued and will be paid April 1. 7. Lars Linken opened Blue Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1 Issued 7,600 shares of common stock for $11,400 cash. 1 1 2 3 6 14 Borrowed $4,800 cash by signing a 6-month, 6%, $4,800 note payable. Interest will be paid the first day of each subsequent month. Purchased used truck for $6,100 cash. Paid $1,200 cash to cover rent from March 1 through May 31. Paid $1,800 cash on a 6-month insurance policy effective March 1. Purchased cleaning supplies for $1,520 on account. Billed customers $2,810 for cleaning services performed. Paid $380 on amount owed on cleaning supplies. Paid $1,330 cash for employee salaries. Collected $1,220 cash from customers billed on March 14. Billed customers $3,190 for cleaning services performed. Paid $270 for gas and oil used in truck during month (use Maintenance and Repairs Expense). Declared and paid a $680 cash dividend. 18 20 21 28 31 31 Date Account Titles and Explanation Debit Credit Mar. 31 Service Revenue 5660 Income Summary 5660 (To close revenue account) Mar. 31 Income Summary Maintenance and Repairs Expense Supplies Expense Depreciation Expense Insurance Expense Salaries and Wages Expense (To close expense accounts) Mar. 31 (To close net income to retained earnings) Mar. 31 (To close dividends to retained earnings) Retained Earnings Dividends 3/31 680 Income Summary Service Revenue 3/14 2.810 3/28 3,190 3/31 150 Maintenance and Repairs Expense 3/31 270 Supplies Expense 3/31 1,310 Depreciation Expense 3/31 190 Insurance Expense 3/31 300 Salaries and Wages Expense 3/20 1,330 3/31 820 Rent Expense 3/31 400 V Interest Expense 3/31 24 V