ACR4.2 Lars Linken opened Lars Cleaners on March 1, 2020. During March, the following transac- tions were completed. Mar. 1 Shareholders invested €15.000 cash in the business in exchange for ordinary shares. 1 Borrowed €6,000 cash by signing a 6-month, 6%, €6,000 note payable. Interest will be paid the first day of each subsequent month. 1 Purchased used truck for €8.000 cash. 2 Paid €1,500 cash to cover rent from March 1 through May 31. 3 Paid €2,400 cash on a 6-month insurance policy effective March 1. 6 Purchased cleaning supplies for €2,000 on account. 14 Billed customers €3,700 for cleaning services performed. 18 Paid €500 on amount owed on cleaning supplies. 20 Paid €1,750 cash for employee salaries. 21 Collected €1,600 cash from customers billed on March 14. 28 Billed customers €4,200 for cleaning services performed. 31 Paid €350 for gas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Declared and paid a €900 cash dividend. The chart of accounts for Lars Cleaners contains the following accounts: Cash, Accounts Receivable, counts Payable, Salaries and Wages Payable, Notes Payable, Interest Payable, Share Capital-Ordinary. Supplies Expense, Depreciation Expense, Insurance Expense Salaries Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, pense, and Interest Expense. -4 Wage- Expense. Rent Ex- 文 Comprehensive Accc Instructions a. Journalize the March transactions. b. Post to the ledger accounts. (Use T-accounts.) c. Prepare a trial balance at March 31. d. Journalize the following adjustments. 1. Services performed but unbilled and uncollected at March 31 were €200. 2. Depreciation on equipment for the month was €250. 3. One-sixth of the insurance expired. 4

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