Atlas Advertising showed the following selected transactions for the month ended March 31, 2020:

Required

Prepare journal entries for each of the above transactions.

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Purchased a new portable building, paying cash of $75,000 and signing a five-year note payable for the balance of Mar. $300,000. Purchased six months of insurance to begin March 1; paid $5,700. Made a hotel reservation by phone regarding a business meeting to be held on March 28. The full payment of $240 will be required upon arrival at the hotel. Purchased cleaning supplies on account; $450. Paid for the March 4 purchase. Performed advertising work for a client today on account; $35,000. Collected cash of $8,000 from a customer. The advertising work will be done in April. 15 19 20 Registered at the hotel booked on March 2 and paid the bill. Attended the out-of-town business meeting and returned to the office the next day. Provided advertising services to the local botanical garden society; collected $5,000. 28 29 Paid month-end salaries of $25,600. 30 30 Received the March telephone bill today; $1,300. It will be paid April 14. 30 Collected half of the amount owed by the customer of March 19.