Reference no: EM132905636
These transactions were recorded in April
April 1 B.Fischer invested $9,000 cash to begin the business in exchange for common stock.
April 2 Paid $2,850 cash for six months' lease on a van for the business.
April 3 Borrowed $10,000 cash from a bank and signed a note payable, agreeing to repay it in one year plus 10% interest.
April 4 Purchased $5,500 in cleaning equipment; the company paid $2,500 cash with the remainder due within 30 days.
April 5 Paid $4,300 cash for cleaning supplies.
April 7 Paid $350 cash for advertisements to run in the area newspaper during April.
April 21 Billed customers $3,500 for services performed.
April 23 Paid $3,000 cash toward the account for cleaning equipment (see April 4).
April 28 Collected $2,300 cash from customers on their accounts billed on April 21.
April 29 Paid $1,000 cash for dividends.
April 30 Paid $2,750 cash for April wages.
April 30 Paid $995 cash for gasoline used during April.
Problem 1: Record these transactions for April using balance sheet and income statement