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Susie Smith opened Susie's Commerical Clearning on April 1, 2021. In Apr, the following transactions were completed.
Apr 1. Invested $14,000 cash in the business
1. Purchased a used truck for $26,400, paying $6,400 cash and signing a note payable for the balance
1. Collected $3,000 from XYZ for their cleaning needs for Apr, May and June.
3. Purchased cleaning supplies on account for $850
5. Paid $1,800 on a one-year insurance policy, effective Apr 1
12. Billed customers $3,800 for cleaning services
18. Paid $400 of amount owed on cleaning supplies
20. Paid $1,600 for employee's salaries
21. Collected $1,400 from customers billed on Apr 12
25. Billed customers for $3,000 for cleaning services
30. Paid gas and oil for the month on the truck $350
30 Withdrew $1,600 to pay personal property taxes
Additional Information:
Annual payments of $3,000 are required on the note.
Susie's Commerial Clearning has chosen to prepare reversing entries. Prepare necessary reversing entries in May 2021.
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