March 1 Dianne invested the following to start a mechanic shop: 1,500,000 cash and 500,000 worth

of equipment

March 3 Dianne bought an additional machine on account from Lara Company worth 700,000.

March 7 Dianne rendered service worth 150,000 to Julianne; half of it was earned in cash and the
other half payable on March 15

March 9 Dianne received a bank loan from 123Bank amounting to 200,000

March 15 Dianne received balance due from Julianne

March 16 Billed Michael 100,000 and received 25% in cash

March 17 Dianne rendered service on account, 50,000

March 20 Bought supplies worth 60,000 and made 60% down payment

March 22 Received 40% from Michael’s remaining balance

March 25 Paid Lara Company

March 27 Rendered service, 300,000 and collected amount earned last March 17

March 28 Dianne withdrew 10,000 for personal use

March 29 Paid 20,000 for electricity, 2,000 for water, and 70,000 to her workers

March 30 Paid rent, 25,000

 JOURNAL

Date Account Title Account Title DEBIT CREDIT

(Debit) (Credit)
March 1 Cash 1,500,000
Equipment 500,000
Dianne, Capital 2,000,000
#

3 Equipment 700,000
Accounts Payable 700,000
#

7 Cash 75,000
Accounts Receivable 75,000
Revenue 150,000
#

9 Cash 200,000
Loans Payable 200,000
#

15 Cash 75,000
Accounts Receivable 75,000
#

16 Cash 25,000
Accounts Receivable 75,000
Revenue 100,000
#

17 Accounts Receivable 50,000

Revenue 50,000
#
20 Supplies 60,000
Cash 36,000
Accounts Payable 24,000
#

22 Cash 30,000
Accounts Receivable 30,000
#

25 Accounts Payable 700,000

Cash 700,000
#

27 Cash 350,000
Accounts Receivable 50,000
Revenue 300,000
#

28 Drawing 10,000
Cash 10,000
#

29 Utilities Expense 22,000

Salaries Expense 70,000
Cash 92,000
#

30 Rent Expense 25,000

Cash 25,000
#
 T ACCOUNTS

CASH EQUIPMENT CAPITAL

Debit Credit Debit Credit Debit Credit

1,500,000 36,000 500,000 2,000,000
75,000 700,000 700,000 2,000,000
200,000 92,000 1,200,000
75,000 25,000
25,000 10,000
30,000
350,000
2,255,000 863,000
1,392,000

ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE

Debit Credit Debit Credit
700,000 700,000 75,000 30,000
75,000 75,000 50,000
24,000 50,000
700,000 799,000 200,000 80,000
99,000 120,000

SUPPLIES DRAWING SALARIES EXPENSE UTILITIES EXPENSE

Debit Credit Debit Credit Debit Credit Debit Credit
60,000 10,000 70,000 22,000
60,000 10,000 70,000 22,000

RENT EXPENSE REVENUE LOAN PAYABLE

Debit Credit Debit Credit Debit Credit
25,000 150,000 200,000
25,000 100,000 200,000
50,000
300,000
600,000
Trial Balance

Dianne M. Auto-mechanic Shop

Trial Balance

March 31, 2019

Dr Cr
Cash 1,392,000
Equipment 1,200,000
Accounts Receivable 120,000
Supplies 60,000
Accounts Payable 99,000
Loans Payable 200,000
Dianne, Capital 2,000,000
Dianne, Withdrawal 10,000
Revenue 600,000
Utilities Expense 22,000
Salaries Expense 70,000
Rent Expense 25,000
2,899,000 2,899,000