ACC 3010 Fall 2017 project 1(1) Home Insert Page Layout Formulas Data Review View wrap Text Copy " | .,.al Merge & Center $ During May, the first month of operations, the following transactions occurred: Event 1 2 Date 14 1-May Paid S10,200 for 12 months rent on office space. 152-May Purchased two used trucks for S21910. 3-May Purchased $3,450 of additional pool cleaning supplies on account 17 5-May Signod a contract with a local recreation center for cleanings to be done over the next 12 moeths a i SMay Borrowed 12,000 from the bank for operating cash. The note has a 32% interest rate (simple merest) and is to be repaid in four years 15-May Received $14,400 from the recreation center 20-May Paid $1,550 for maintenance on the trucks recreation center for the work to be performed over the next 12 months 20 22 21-May Performed services for various customers for $5,200 cash and another $13,900 om account. 23 25-May Paid $2,800 to suppliers for parchases peeviously made on account. 24 26-May Paid salaries to employees totaling $7.,800 for services rendered for I weck 25 29-May Paid uility bill totaling $180. 26 31-May Collected $2,500 as payment for amounts previously billed 31-May Dividends of $200 were declared and paid. At the end of May, the following additional leformation is available to help determine what adjustments are needed: 30-Sep One month of interest has accrued on the mote payable for the bank loan Salaries of $7,800 are paid every Friday (for a 5 day work week) May 31, 2017 was a Wednesday 32 30-Sep 33 30-Sep One month of the rest paid in advance has been used up 34 30-Sep Cleaning supplies oe hand are $2,300 35 30-Sep Additional work of $5,000 has been perfomsed during the last week of May but sot yet billed 30Sep Depeeciation expense for the equipment is $150 and for the office fursiture is $250 30-Sep One month of the services for the recreation center bas been perfomed (see above) SUGGESTED STEPS FOR COMPLETION OF THE PROJECT Prepare journal entries to recond the September transactions givem. Please refer te the Worksheet tab fer Account Tidles the indormation given on the Worksheet. There is a tab to use for T Accounts if you choose to 2 Post the jounal entries to ledger accounts using T-accounts to pepresere Iodger accounts Don't Sorget the opening balances from ADJUSTING J CLOING J MacBook Air esc 2 3 4