Lars Linken opened Riverbed Cleaners on March 1, 2017. During March, the followi

Question

Lars Linken opened Riverbed Cleaners on March 1, 2017. During March, the following transactions were completed.

The chart of accounts for Riverbed Cleaners contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Prepaid Rent, Equipment, Accumulated Depreciation—Equipment, Accounts Payable, Salaries and Wages Payable, Notes Payable, Interest Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense, Rent Expense, and Interest Expense

Date

Account Titles and Explanation

Debit

Credit

Explanation / Answer

1-Mar Cash 15300     Common Stock 15300 1-Mar Cash 6000      Notes Payable 6000 1-Mar Equipment 8200     Cash 8200 2-Mar Prepaid Rent 1500     Cash 1500 3-Mar Prepaid Insurance 2400     Cash 2400 6-Mar Supplies 2040        Accounts Payable 2040 14-Mar Accounts Receivable 3770       Service Revenue 3770 18-Mar Accounts Payable 510     Cash 510 20-Mar Salaries and Wages Expense 1790     Cash 1790 21-Mar Cash 1630       Accounts Receivable 1630 28-Mar Accounts Receivable 4280       Service Revenue 4280 31-Mar Maintenance and Repairs Expense 360     Cash 360 31-Mar Dividends 920     Cash 920

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