Reference no: EM132832441

Question - Cape Breton Landscaping Services completed the following transactions during August 2020, its first month of operations:

August 1 Received cash of $50,000 and issued common shares.

August 2 Purchased equipment for $35,000 cash.

August 3 Purchased supplies on account, $400.

August 10 Performed landscaping services for customers on account, $3,950.

August 14 Paid $250 on accounts payable.

August 18 Collected cash from customers on account, $2,500.

August 23 Paid utilities expense, $150.

August 25 Performed landscaping services for customers and received cash of $1,250.

August 30 Paid the following expenses: Salary, $900; advertising, $125 and insurance, $200.

August 31 Declared and paid a cash dividend of $750.

Required - Record the transactions in the journal of Cape Breton Landscaping Services. Record each transaction by date. Journal entry descriptions are not required.