Bearcat Construction begins operations in March and has the following transactions.
March 1 Issue common stock for $16,000.
March 5 Obtain $8,000 loan from the bank by signing a note.
March 10 Purchase construction equipment for $20,000 cash.
March 15 Purchase advertising for the current month for $1,000 cash.
March 22 Provide construction services for $17,000 on account.
March 27 Receive $12,000 cash on account from March 22 services.
March 28 Pay salaries for the current month of $5,000.
Record each transaction. Bearcat uses the following accounts: Cash, Accounts Receivable, Notes Payable, Common Stock, Service Revenue, Advertising Expense, and Salaries Expense.
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