The transactions of Lightning Package Delivery Company for March 2012 follow:
The company was organized and issued capital stock for $300,000 cash.
Paid $6,000 as the rent for March on a completely furnished building.
Paid cash for delivery trucks, $180,000.
Paid $4,000 as the rent for March on two forklift trucks.
Paid $2,200 for supplies received and used in March.
Performed delivery services for customers who promised to pay $27,000 at a later date.
Collected cash of $4,500 from customers on account (see March 12 entry).
Received a bill for $1,200 for advertising in the local newspaper in March.
Paid cash for gas and oil consumed in March, $450.
Paid $2,400 salaries to employees for March.
Received an order for services at $12,000. The services will be performed in April.
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…