ACCOUNTING CYCLE
Almutasem Co., is providing the landscaping services through his company. Completed the following transactions during March 2015, the company first month of operations.
Mar 1 The company invested $65,000 of cash to start the business.
2 Purchased Office Supplies of $2,500 on account.
5 Paid $25,000 cash to purchase land.
9 Performed Services for customers and received Cash $15,000.
12 Paid $1,500 on account payable.
15 Performed services for customers on account $30,000.
26 Received $22,500 cash from a customer on account.
27 Paid salaries $4,000; rent $5,000 and utilities expenses $7,500.
28 Collected $2,000 in advance for services to be provided later.
29 Prepaid insurance $1,200.
30 Paid cash dividends $4,500.
Required:
1. Prepare journal entries.
2. T - Accounts, for all accounts appear in the journal.
3. Trial Balance.