Questions: Selected transactions for Pronghorn's Dog Care are as follows during the month of March. March 1 Paid monthly rent of 1,180. 3 Performed services for 140 on account. 5 Performed services for cash of 75. 8 Purchased equipment for 590. The company paid cash of 80 and the balance was on account. 12 Received cash from customers billed on March 3. 14 Paid wages to employees of 515. 22 Paid utilities of 70. 24 Borrowed 1,470 from Grafton State Bank by signing a note. 27 Paid 220 to repair service for plumbing repairs. 28 Paid balance amount owed from equipment purchase on March 8. 30 Paid 1,770 for six months of insurance policy. Coverage begins April 1. Journalize the transactions. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.

Selected transactions for Pronghorn's Dog Care are as follows during the month of March.

March 1 Paid monthly rent of 1,180.
3 Performed services for 140 on account.
5 Performed services for cash of 75.
8 Purchased equipment for 590. The company paid cash of 80 and the balance was on account.
12 Received cash from customers billed on March 3.
14 Paid wages to employees of 515.
22 Paid utilities of 70.
24 Borrowed 1,470 from Grafton State Bank by signing a note.
27 Paid 220 to repair service for plumbing repairs.
28 Paid balance amount owed from equipment purchase on March 8.
30 Paid 1,770 for six months of insurance policy. Coverage begins April 1.

Journalize the transactions. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.
Transcript text: Selected transactions for Pronghorn's Dog Care are as follows during the month of March. March 1 Paid monthly rent of $\$ 1,180$. 3 Performed services for $\$ 140$ on account. 5 Performed services for cash of \$75. 8 Purchased equipment for $\$ 590$. The company paid cash of $\$ 80$ and the balance was on account. 12 Received cash from customers billed on March 3. 14 Paid wages to employees of $\$ 515$. 22 Paid utilities of $\$ 70$. 24 Borrowed $\$ 1,470$ from Grafton State Bank by signing a note. 27 Paid $\$ 220$ to repair service for plumbing repairs. 28 Paid balance amount owed from equipment purchase on March 8. 30 Paid $\$ 1,770$ for six months of insurance policy. Coverage begins April 1. Journalize the transactions. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.
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Solution

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Here are the journal entries for Pronghorn's Dog Care for the month of March:

  1. March 1

    Debit: Rent Expense $1,180
    Credit: Cash $1,180
    
  2. March 3

    Debit: Accounts Receivable $140
    Credit: Service Revenue $140
    
  3. March 5

    Debit: Cash $75
    Credit: Service Revenue $75
    
  4. March 8

    Debit: Equipment $590
    Credit: Cash $80
    Credit: Accounts Payable $510
    
  5. March 12

    Debit: Cash $140
    Credit: Accounts Receivable $140
    
  6. March 14

    Debit: Wages Expense $515
    Credit: Cash $515
    
  7. March 22

    Debit: Utilities Expense $70
    Credit: Cash $70
    
  8. March 24

    Debit: Cash $1,470
    Credit: Notes Payable $1,470
    
  9. March 27

    Debit: Repairs and Maintenance Expense $220
    Credit: Cash $220
    
  10. March 28

    Debit: Accounts Payable $510
    Credit: Cash $510
    
  11. March 30

    Debit: Prepaid Insurance $1,770
    Credit: Cash $1,770
    

These entries reflect the transactions as described, ensuring that each transaction is recorded in the appropriate accounts with the correct amounts.

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