Steps for

Below are the transactions for Button Sewing Shop for March, the first month of operations.

March $1$ Issue common stock in exchange for cash of $$1,400.$

March $3$ Purchase sewing equipment by signing a note with the local bank, $$1,100.$

March $5$ Pay rent of $$440$ for March.

March $7$ Martha, a customer, places an order for alterations to several dresses. Button estimates that the alterations will cost Martha $$640.$ Martha is not required to pay for the alterations until the work is complete.

March $12$ Purchase sewing supplies for $$114$ on account. This material will be used to provide services to customers.

March $15$ Button delivers altered dresses to Martha and receives $$640.$

March $19$ Button agrees to alter $10$ business suits for Bob, who has lost a significant amount of weight recently.

March $25$ Button receives $$540$ from Bob and promises the suits to be completed by March $25.$

March $30$ Pay utilivers $10$ altered business suits to Bob.

March $31$ Pay dividend of $$79$ for the current period.

Required:

Record each transaction.

& $3.$ Post each transaction to the appropriate T$-$accounts and calculate the balance of each account at March $31.$

Prepare a trial balanceras of March $31.$