Reference no: EM133127418
Question - At the beginning of March, Sandhill Software Company had Cash of $12,108, Accounts Receivable of $18,114, Accounts Payable of $4,180, and G. Sandhill, Capital of $26,042. During the month of March, the following transactions occurred.
1. Purchased equipment for $22,670 from Digital Equipment. Paid $3,270 cash and signed a note payable for the balance.
2. Received $12,148 from customers for contracts billed in February.
3. Paid $2,947 for March rent of office space.
4. Paid $2,557 of the amounts owing to suppliers at the beginning of March.
5. Provided software services to Kwon Construction Company for $6,674 cash.
6. Paid BC Hydro $1,073 for energy used in March.
7. G. Sandhill withdrew $4,951 cash from the business.
8. Paid Digital Equipment $2,037 on account of the note payable issued for the equipment purchased in transaction 1. Of this, $97 was for interest expense.
9. Hired an employee to start working in April.
10. Incurred advertising expense on account for March, $1,387.
Required - Prepare a tabular analysis of the above transactions. The first row contains the amounts the company had at the beginning of March.
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