"Matthews Delivery Service, Inc Solution"…Complete Answer! Thanks

Matthews Delivery Service, Inc., completed the following transactions during its first month of operations for January 2012:



Matthews Delivery Service, Inc., began operations by receiving $6,000 cash and a truck valued at $11,000. The business issued common stock to acquire these assets.



Paid $300 cash for supplies.



Prepaid insurance, $700.



Performed delivery services for a customer and received $800 cash.



Completed a large delivery job, billed the customer $1,500, and received a promise to collect the $1,500 within one week.



Paid employee salary, $700.



Received $12,000 cash for performing delivery services.



Collected $600 in advance for delivery service to be performed later.



Collected $1,500 cash from a customer on account.



Purchased fuel for the truck, paying $200 with a company credit card. (Credit Accounts Payable)



Performed delivery services on account, $900.



Paid office rent, $600. This rent is not paid in advance.



Paid $200 on account.



Paid cash dividends of $2,100.







Matthews Delivery Service, Inc. had the following adjustments for the data given at January 31, 2012:



Accrued salary expense, $700.



Depreciation Expense, $60.



Prepaid insurance expired, $250.



Supplies on hand, $200.