During its first month of operation, the Flower Landscaping Corporation, which specializes in residential landscaping,
Completed the following transactions.
Began business by making a deposit in a company bank account of $72,000, in exchange
for 7,200 shares of $10 par value common stock.
Paid the current month’s rent, $4,500.
Paid the premium on a 1-year insurance policy, $3,300.
Purchased supplies on account from Parkview Company, $900.
Paid employee salaries, $2,200.
Purchased equipment from Hammond Company, $9,000. Paid $1,500 down and the balance was
placed on account. Payments will be $375.00 per month for 20 months. The first payment is due 4/1.
Note: Use accounts payable for the balance due.
Received cash for landscaping revenue for the first half of March, $4,896.
Made payment on account to Parkview Company, $450.
Received cash for landscaping revenue for the last half of March, $5,304.
Declared and paid cash dividend of $1,000.
Prepare journal entries to record the March transactions in the General Journal below.