During its first month of operation, the Leonard Landscaping Company, which, specializes in landscaping services, completed the following transactions.
April TransactionsDateTransaction DescriptionApril 1Started a landscaping business by making a $50,000 deposit in a company bank account, in exchange for 5,000 shares of $10 par value common stock.April 1Purchased insurance for the year and paid $3,600 cash.April 1Paid monthly rental of $2,500 cash on a warehouse to store the landscaping equipment.April 3Purchased landscaping equipment from Toro for $15,000, paying a downpayment of $10,000 cash, and $5,000 on account.April 5Purchased landscaping supplies of $750 on account. iPaid $500 cash for advertising in local newspapers.April 10Received $12,500 in cash for landscaping services provided. April 12Paid $2,000 on account for landscaping equipment previously purchased on April 3rd.April 15Provided landscaping services on account for $1,200.April 20Received $10,500 in cash for landscaping services provided. April 28 Received $600 cash on account for landscaping services performed on April 15th.April 30Received $4,000 cash for landscaping services provided. April 30Paid a utility bill of $700 cash.April 30Paid dividends of $3,000 cashApril 30The inventory of landscaping supplies showed a balance of $300 on hand at the end of the month.
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