Reference no: EM132653495

John Carson has decided to start a sole proprietorship called John's Lawn Care Services. He then starts the process of getting the business running. During the month of April 2020, the following activities take place:

Apr.3: John invests $1,000 of his own money into the business.
Apr.4: John goes to the bank to fill out a loan application for $2,000.
Apr.5: John buys a lawn mower worth $500 using company funds.
Apr. 5: John buys $50 worth of supplies for the business, he pays cash. All of the supplies will be used up this month.
Apr.6: John receives an invoice for advertising services that ran in the local newspaper for $420. The invoice is due May 10th.
Apr.7: John has his first client! John mowed the Robertson family's commercial property for $100. Mr. Robinson has 30 days to pay the invoice.
Apr.10: The bank loan has been approved, and John signs the 3 year note payable for $2,000. The cash is deposited in the bank account.
Apr.15: John has been busy - he has done a number of private residences over the past week and they have paid him cash, $600.
Apr.29: Mr. Robinson referred a new commercial client to John, who wants to reserve his services for May to September. He provides a $500 deposit.
Apr.30: John withdraws $750 from the company for his personal use.

Required: Journal Entries

Question 1: Record the above events as applicable in General Journal format. Select the most appropriate account name from the drop down list attached to each space, and enter the transaction amount in the DR and CR spaces.