REQUIREMENT #1:

During its first month of operation, the Parkview Landscaping Corporation, which specializes in residential landscaping,completed the following transactions:

July 1 Began business by making a deposit in a company bank account of $24,000, in exchange for 4,800 shares of $5 par value common stock.

July 1 Paid the premium on a one-year insurance policy, $2,400.

July 1 Paid the current month’s rent, $2,080.

July 3 Purchased landscaping equipment from Brookwood Company, $8,800. Paid $1,200 down and the balance was placed on account. Payments will be $400.00 per month for nineteen months. The first payment is due 8/1. Note: Use Accounts Payable for the Balance Due.

July 8 Purchased landscaping supplies from Lakeside Company on credit, $780.

July 12 Paid utility bill for July, $308.

July 16 Received cash for landscaping revenue for the first half of July, $2,724.

July 19 Made payment on account to Lakeside Company, $400.

July 31 Received cash for landscaping revenue for the last half of July, $2,620.

July 31 Declared and paid cash dividend of $1,600.

Prepare journal entries to record the July transactions in the General Journal below and a trial balance; adjusted trial balance