1 1 Karen Noonan opened Sage Hill Cleaning Services Inc on February 1, 2022. During February, the following transactions were completed: Feb. 1 Issued 5,300 shares of Sage Hill Cleaning Services common stock for $13,780. Each share has a $1.50 pat. Borrowed $8,480 on a 2 year, 6% note payable. Paid $9,560 to purchase used floor and window cleaning equipment from a company going out of business (55,110 was for the floor equipment and 54,450 for the window equipment) 1 Paid $230 for February Internet and phone services, 3 Purchased cleaning supplies for $1,040 on account. 4 Hired 4 employees. Each will be paid $10 per 5 day work week (Monday-Friday) Employees will begin working Monday, February 9. 5 Obtained insurance coverage for $10,430 per year. Coverage runs from February 1, 2022, through January 31, 2023. Karen paid $2,608 cash for the first quarter of coverage. 5 Discussions with the insurance agent indicated that providing outside window cleaning services would cost too much to insure Karen sold the window cleaning equipment for 54,190 cash 16 Billed customers $4,130 for cleaning services performed through February 13, 2022 17 Received $576 from a customer for 4 weeks of cleaning services to begin February 21, 2022. (By paying in advance, this customer received 10% off the normal weekly fee of $160.) Paid $320 on amount owed on cleaning supplies Paid $3 per share to buy 320 shares of Sage Poll Cleaning Services common stock from a shareholder who disagreed with management goals. The shares will be held as treasury shares 23 Billed customers $4,560 for cleaning services performed through February 20, 24 Paid cash for employees' wages for 2 weeks (February 9-13 and 16-20). 25 Collected $2,650 cash from customers billed on February 16, 27 Paid $230 for Internet and phone services for March 28 Declared and paid a cash dividend of $0.25 per share. 1B 20 Totals