Acct 212 Course Project

  During its first month of operation, the Bethany’s Bicycle Corporation, which specializes in bicycle repairs, completed the following transactions.    
  March Transactions    
  Date Transaction Description    
  March 1 Began business by making a deposit in a company bank account of $20,000, in exchange for 2,000 shares of $10 par value common stock.    
  March 1 Paid the premium on a 1-year insurance policy, $2,400.    
  March 1 Paid the current month’s store rent expense, $1,900.    
  March 3 Purchased repair equipment from Andrew Company, $5,800. Paid $1,000 down and the balance was placed on account.  Payments will be $400.00 per month for 12 months. The first payment is due 4/1. Note: Use Accounts Payable for the Balance Due.    
  March 8 Purchased repair supplies from Jackson Company on credit, $650.    
  March 10 Paid telephone bill for March, $340.    
  March 11 Cash bicycle repair revenue for the first third of March, $1,650.    
  March 18 Made payment to Jackson Company, $400.    
  March 20 Cash bicycle repair revenue for the second third of March, $2,450.    
  March 31 Cash bicycle repair revenue for the last third of March, $1,250.    
  March 31 Paid the current month’s electice bill, $250.    
  March 31 Declared and paid cash dividend of $1,000.    
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