Question: Lars Linken opened Flint Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1 Issued 11,400 shares of common stock

Lars Linken opened Flint Cleaners on March 1, 2022. During March, the

Lars Linken opened Flint Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1 Issued 11,400 shares of common stock for $17,100 cash. 1 1 Borrowed $6,600 cash by signing a 6-month, 6%, $6,600 note payable. Interest will Purchased used truck for $9,100 cash. 2 Paid $1,800 cash to cover rent from March 1 through May 31. 3 Paid $2,700 cash on a 6-month insurance policy effective March 1. 6 Purchased cleaning supplies for $2,280 on account. 14 Billed customers $4,220 for cleaning services performed. 18 Paid $570 on amount owed on cleaning supplies. 20 20 28 21 Paid $2,000 cash for employee salaries. Collected $1,820 cash from customers billed on March 14. 28 Billed customers $4,790 for cleaning services performed. SUPPORT 31 Paid $400 for gas and oil used in truck during month (use Maintenance and Repairs Declared and paid a $1,030 cash dividend.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!