Reference no: EM132597729

During March, the business completed the following transactions:

a. Borrowed $42,000 from the bank, with Calderon signing a note payable in the name of the business.

b. Paid cash of $39,000 to a real estate company to acquire land.

c. Performed service for a customer and received cash of $9,000.

d. Purchased supplies on credit, $500.

e. Performed customer service and earned revenue on account, $3500.

f. Paid $1500 on account.

g. Paid the following cash expenses: salaries, $2300; rent, $1,800; and interest, $600.

h. Received $4,500 on account.

i. Received a $500 utility bill that will be paid next month.

j. Declared and paid dividend of $1700.

Question 1: Prepare for March: Accounting equation, T-account, Journal