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The transactions of Lightning Package Delivery Company for March 2012 follow:
Mar.
1
The company was organized and issued capital stock for $300,000 cash.
2
Paid $6,000 as the rent for March on a completely furnished building.
5
Paid cash for delivery trucks, $180,000.
6
Paid $4,000 as the rent for March on two forklift trucks.
9
Paid $2,200 for supplies received and used in March.
12
Performed delivery services for customers who promised to pay $27,000 at a later date.
20
Collected cash of $4,500 from customers on account (see March 12 entry).
21
Received a bill for $1,200 for advertising in the local newspaper in March.
27
Paid cash for gas and oil consumed in March, $450.
31
Paid $2,400 salaries to employees for March.
31
Received an order for services at $12,000. The services will be performed in April.
31
Paid cash dividend, $1,000.
account titlesMar-01 cashcapital stockMar-02 rentcash debitcredit30000030000060006000 Mar-05 delivery truckcash 180000180000 Mar-06 rentcash 4000 Mar-09 suppliescash 2200 4000 2200…
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