Question

OURCES Accounting Cycle Review 4-02 a-i (Part Level Submission) Lars Linken opened Bramble Cleaners on March 1, 2020. During March, the following transactions were completed. (Part Study Owner invested $11,700 cash in the company. Borrowed $4,800 cash by signing a 6-month, 6%, $4,800 note payable. Interest will be paid the first day of each subsequent month. 1 Purchased used truck for $6,200 cash. 2 Paid $1,200 cash to cover rent from March 1 through May 31. 3 Paid $1,800 cash on a 6-month insurance policy effective March 1. 6 Purchased cleaning supplies for $1,560 on account. 14 Billed customers $2,890 for cleaning services performed. 18 Paid $390 on amount owed on cleaning supplies. 20 Paid $1,370 cash for employee salaries. 21 Collected $1,250 cash from customers billed on March 14, 28 Billed customers $3,280 for cleaning services performed. 31 Paid $270 for gas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Owner withdrew $700 cash from the company. (a) Joumalize the March transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit

Answer 1

a. In the books of Bramble Cleaners :

Date	Account Titles	Debit	Credit
March 2020		$	$
1	Cash	11,700
	L.Linken, Capital		11,700
1	Cash	4,800
	Notes Payable		4,800
1	Truck	6,200
	Cash		6,200
2	Prepaid Rent	1,200
	Cash		1,200
3	Prepaid Insurance	1,800
	Cash		1,800
6	Supplies	1,560
	Accounts Payable		1,560
14	Accounts Receivable	2,890
	Service Revenue		2,890
18	Accounts Payable	390
	Cash		390
20	Salaries Expense	1,370
	Cash		1,370
21	Cash	1,250
	Accounts Receivable		1,250
28	Accounts Receivable	3,280
	Service Revenue		3,280
31	Maintenance and Repairs Expense	270
	Cash		270
31	L. Larken, Withdrawals	700
	Cash		700

b.

Cash
3/1	11,700	3/1	6,200
3/1	4,800	3/2	1,200
3/21	1,250	3/3	1,800
		3/18	390
		3/20	1,370
		3/31	270
		3/31	700
Bal.	5,820
Accounts Receivable
3/14	2,890	3/21	1,250
3/28	3,280
Bal.	4,920
Supplies
3/6	1,560
Bal.	1,560
Prepaid Insurance
3/3	1,800
Bal.	1,800
Prepaid Rent
3/2	1,200
Bal.	1,200
Truck
3/1	6,200
Bal.	6,200
Accounts Payable
3/18	390	3 / 6	1,560
		Bal.	1,170
Notes Payable
		3/1	4,800
		Bal.	4,800
L. Larken, Capital
		3/1	11,700
		Bal.	11,700
L. Larken, Withdrawals
3/31	700
3/31	700
Service Revenue
		3/14	2,890
		3/28	3,280
		Bal.	6,170
Salaries Expense
3/20	1,370
Bal.	1,370
Maintenance and Repairs Expense
3/31	270
Bal.	270