During January, the following transactions were completed for Park Cleaners, Inc (PCI).
1 On January 1, Park Cleaners, Inc (PCI) issued stock in exchange for $20,000 cash.
2 On January 2, Park Cleaners, Inc (PCI) purchased a truck for $14,000, paying $2,000 cash down and signing a 5-year, 2% note for the remaining $12,000.
3 On January 3, Park Cleaners, Inc (PCI) purchased cleaning supplies for $800 on account to be used over several months.
4 On January 5, Park Cleaners, Inc (PCI) prepaid $2,400 for a one-year insurance policy. Coverage began on January 1.
5 On January 10, Park Cleaners, Inc (PCI) sent invoices to customers amounting to $3,800 for completed cleaning services.
6 On January 15, Park Cleaners, Inc (PCI) paid $1,600 for employee salaries for work performed in January.
7 On January 16, Park Cleaners, Inc (PCI) collected $1,400 from customers billed on January 10.
8 On January 20,Park Cleaners, Inc (PCI) collected $1,000 in advance from a customer for February cleaning services.
9 On January 25, Park Cleaners, Inc (PCI) makes a cash payment on truck note for $500.
10 On January 31, Park Cleaners, Inc (PCI) paid a cash dividend of $100.
For the above transactions, Prepare the Monthly Journal Entries, Post to the General Ledger (t-accounts), and Prepare an Unadjusted Trial Balance.