Lars Linken opened Lars Cleaners on March 1, 2020. During March, the following… 2 answers below »

Lars Linken opened Lars Cleaners on March 1, 2020. During March, the following transac-tions were completed. Man 1 Shareholders invested €15,000 cash in the business in exchange for ordinary shares. 1 Borrowed €6,000 cash by signing a 6-month, 6%, €6,000 note payable. Interest will be paid the first day of each subsequent month. 1 Purchased used truck for €8,000 cash. 2 Paid €1,500 cash to cover rent from March 1 through May 31. 3 Paid €2,400 cash on a 6-month insurance policy effective March 1. 6 Purchased cleaning supplies for €2,000 on account. 14 Billed customers €3,700 for cleaning services performed. 18 Paid €500 on amount owed on cleaning supplies. 20 Paid €1,750 cash for employee salaries. 21 Collected €1,600 cash from customers billed on March 14. 28 Billed customers €4,200 for cleaning services performed. 31 Paid €350 for gas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Declared and paid a €900 cash dividend.