Prepare an Adjusted Trail Balance Lars Linken opened Swifty Cleaners on March 1, 2020. During March,...

Transcribed Image Text:

Prepare an Adjusted Trail Balance Lars Linken opened Swifty Cleaners on March 1, 2020. During March, the following transactions were completed. Mar. Owner invested $17,700 cash in the company. 1 Borrowed $7,200 cash by signing a 6-month, 6%, $7,200 note payable. Interest will be paid the first day of cach subsequent month. 1 Purchased used truck for $9,400 cash. Paid $1,800 cash to cover rent from March 1 through May 31. Paid $2,700 cash on a 6-month insurance policy effective March 1. Purchased cleaning supplies for $2,360 on account. 14 Billed customers S4,370 for cleaning services performed. 18 Paid $590 on amount owed on cleaning supplies. 20 Paid $2,070 cash for emplayee salaries. 21 Collected $1,890 cash from customers billed on March 14. 28 Billed customers S4,960 for cleaning services performed. 31 Paid $410 for gas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Owner withdrew $1,060 cash from the company. Prepare an Adjusted Trail Balance Lars Linken opened Swifty Cleaners on March 1, 2020. During March, the following transactions were completed. Mar. Owner invested $17,700 cash in the company. 1 Borrowed $7,200 cash by signing a 6-month, 6%, $7,200 note payable. Interest will be paid the first day of cach subsequent month. 1 Purchased used truck for $9,400 cash. Paid $1,800 cash to cover rent from March 1 through May 31. Paid $2,700 cash on a 6-month insurance policy effective March 1. Purchased cleaning supplies for $2,360 on account. 14 Billed customers S4,370 for cleaning services performed. 18 Paid $590 on amount owed on cleaning supplies. 20 Paid $2,070 cash for emplayee salaries. 21 Collected $1,890 cash from customers billed on March 14. 28 Billed customers S4,960 for cleaning services performed. 31 Paid $410 for gas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Owner withdrew $1,060 cash from the company.

Answer rating: 100% (QA)

Solution Supplies 2350 Cash Accounts Receivable Prepaid Rent 1Mar 1... View the full answer