2-4B - Comprehensive Problem, Journal Entries, T-Accounts, Trial Balance, Financials Freidas Ferns is a Landscaping Business. The company had the following account balances entering February, 2017: Cash $1,000; Accounts Receivable $500; Supplies $1,500; Equipment $12,000; Accumulated Depreciation - Equipment $7,000; Accounts Payable $400; Bank Loan $2,600; Common Shares $2,000; and Retained Earnings $3,000. The following transactions occurred during February: February 1 Purchased supplies on account: $500. February 3 Collected the amount receivable from January. February 5 Borrowed $5,000 from the bank. February 7 Purchased new lawn mower for $3,000 cash. February 8 Paid off accounts payable from January. February 14 Performed lawn mowing work for the first two weeks. Charge a flat rate of $20 per lawn, the company mowed 150 lawns. Collected from all but 5 customers. February 15 Paid employee's salary of $2,000. February 17 Collected from 4 of the 5 unpaid customers from the first two weeks of February. February 20 Issued 1,000 common shares for $2,000 cash. February 21 Purchased fuel for the mowers: $1,200 cash. February 28 Performed lawn mowing work for the first two weeks. Charge $20 per lawn, the company mowed 180 lawns. Collected from all but 8 customers. February 28 Paid employee's salary of $2,000. February 28 Paid income tax installment of $500. February 28 Paid interest on the loan: $200. February 28 Paid dividends to shareholders: $1,000. Required: a.) Record all necessary journal entries based on the transactions above