Question: Prepare a trial balance for March 31st. Lars Linken opened Concord Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1
Prepare a trial balance for March 31st.
Lars Linken opened Concord Cleaners on March 1, 2022. During March, the following transactions were completed.
| Mar. 1 | Issued 11,000 shares of common stock for $16,500 cash. | ||
|---|---|---|---|
| 1 | Borrowed $6,600 cash by signing a 6-month, 6%, $6,600 note payable. Interest will be paid the first day of each subsequent month. | ||
| 1 | Purchased used truck for $8,800 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 $2,200 on account. | ||
| 14 | Billed customers $4,070 for cleaning services performed. | ||
| 18 | Paid $550 on amount owed on cleaning supplies. | ||
| 20 | Paid $1,930 cash for employee salaries. | ||
| 21 | Collected $1,760 cash from customers billed on March 14. | ||
| 28 | Billed customers $4,620 for cleaning services performed. | ||
| 31 | Paid $390 for gas and oil used in truck during month (use Maintenance and Repairs Expense). | ||
| 31 | Declared and paid a $990 cash dividend. |
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