9. Accrue for interest expense for 1 month. 10. Karen estimates a 20 in income taxrate (Hint Prepare an income statement up to "Incone belore taxs" to help with the income taxcalculation] 9. Accrue for interest expense for 1 month. 10. Karen estimates a 20 in income taxrate (Hint Prepare an income statement up to "Incone belore taxs" to help with the income taxcalculation] \begin{tabular}{|c|c|c|} \hline & Debit & \\ \hline & 8697 & \\ \hline monstock & & 6150 \\ \hline & & 45310 \\ \hline & 3950 & \\ \hline & & 680 \\ \hline \begin{tabular}{l} Ailites Expense \\ \end{tabular} & 178 & \\ \hline counts Prabilic & & 550 \\ \hline & 1845 & \\ \hline polies & 800 & \\ \hline & 210 & \\ \hline \begin{tabular}{l} counes Recervable \\ \end{tabular} & 4680 & \\ \hline \begin{tabular}{l} Inice Reverenue \\ \end{tabular} & & 6730 \\ \hline & & 432 \\ \hline exary Sook & 750 & \\ \hline & 3120 & \\ \hline \begin{tabular}{l} espald Expenses \\ \end{tabular} & & \\ \hline Dividends & 770 & \\ \hline & 25172 & \\ \hline \end{tabular} 9. Accrue for interest expense for 1 month. 10. Karen estimates a 20 in income taxrate (Hint Prepare an income statement up to "Incone belore taxs" to help with the income taxcalculation] \begin{tabular}{|c|c|c|} \hline & Debit & \\ \hline & 8697 & \\ \hline monstock & & 6150 \\ \hline & & 45310 \\ \hline & 3950 & \\ \hline & & 680 \\ \hline \begin{tabular}{l} Ailites Expense \\ \end{tabular} & 178 & \\ \hline counts Prabilic & & 550 \\ \hline & 1845 & \\ \hline polies & 800 & \\ \hline & 210 & \\ \hline \begin{tabular}{l} counes Recervable \\ \end{tabular} & 4680 & \\ \hline \begin{tabular}{l} Inice Reverenue \\ \end{tabular} & & 6730 \\ \hline & & 432 \\ \hline exary Sook & 750 & \\ \hline & 3120 & \\ \hline \begin{tabular}{l} espald Expenses \\ \end{tabular} & & \\ \hline Dividends & 770 & \\ \hline & 25172 & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Cash } \\ \hline 2/10 & 10500 & 2/1 & 7000 \\ \hline 2/1 & 6000 & 2/1 & 170 \\ \hline 2/5 & 3290 & 215 & \\ \hline 2/170 & 42 & 2/18 & 250 \\ \hline 2/258 & 2050 & 2/20: & 750 \\ \hline ;) & & 2/240 & 3120 \\ \hline & & 2/270 & 170 \\ \hline & & 2/280 & m0 \\ \hline 2/28Bal:; & 8091 & 4 & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Accounts Receivable } \\ \hline & 3200 & 2/258 & 2080 \\ \hline 2/230 & 2530 & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Accounts Payable } \\ \hline 2/108 & 200 & 2130 & 800 \\ \hline \end{tabular} \begin{tabular}{l} Notes Payatile \\ \hline+04000 \\ \hline \end{tabular} Karen Noonan opened Sage Hill Cleaning Services inc, on February 1, 2025, During February, the following transactions were completed. Feb. 1 Issued 4,100 shares of Sage Hill Cleaning Services commonstock for $10,660. Each share has a $1.50 par 1. Borrowed $6800 on a 2 year, 6% note payable 1. Paid $7,400 to purchase used floor and window cleaning equipment froma company going out of business (\$3,950 was for the floor equipment and $3,450 for the window equloment). 1. Paid \$178 tor February internet and phone services. 3. Purchased cleaning supplies for $800 on account. 4 Hired 4 employees Each will by pald $390 per 5-day work week (Manday-Friday) Employees will begin working Mondw, February 9. 5 Obtained insurance cowerage for $7,380 per year. Coverage runs from February 1,2025 , through January 31, 2026. Karen paid $1,845 cash tor the first quarter of coverage. 5 Discussions with the insurance agent indlicated that providing outside window cleaning services would cost too much to insure. Karen sold the window cleaning equipment for $3.240cash 16 Eilled custoeners $3,200 for cleaning services performed throuph feheuary 13,2025. 17 Received $432 from a customer for 4 weeks of clearing services to begin February 21, 2025, (B) ypaying in advance, this customer received 10% off the normal weelly foe of $120.] 18. Paid \$250 on amount owed on cleaning supplies. 20. Paid $3 per share to buy 250 shares of 5 age Hal Cleaning Services common stock from a shareholder who disagred with management goals. The shares will be held as treasury shares. 23 Billed customers 53,530 for cleaning services performed through February 20. 24 Paid cash for enployees' wayes for 2 weeks (February 913 and 1620 ). 25 Collected $2050 cash from custemers biled on February 16 27 Paid 5178 tor internet and phone services for March. 28. Declared and pald a cashdwidend of $020 per chare. Journalige the following adjustments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is reasired, select "No Entry" for the oceoset titles and eater o for the amounts. Record journal entries in the order preseated in the problem, Round answers to 0 decimal ploces, e.s. 1,527. 1 Services performed for customers through February 27,2025 , but unblikd and uncolected were $3,180. 2. Recelved notice that a customer who was bilied $160 for services performed February 10 has filed for bankruptcy. Sage Hill Cleaning Services does not expect to collect amy portion of this outstanding recelvable. 3. Sage Hill Cleaning Services uses the allowance method to estimate bad debes. 5age Hili Cleaning Services estimates that 3% of its monh-end receivables wili not be collected. 4. Record 1 month of depreciation for the floor equipment. Use the stratght -line method, an estimated life of 4 years, and $590 salvage value. 5. Record 1 month of insurance expense 6. An inventory count shows $330 of supplies on hand at February 28. 7. One week of services were performed for the customer who paid in advance on February 17. 8. Accrue for wages owed through February 28, 2025. 9. Accrue for interest expense for 1 month. 10. Karenestimates a 205 income tax rate. (P4lint: Prepare an income statement up to "income before taves" to help with the income tax calculationd Journalize the following adjustments. (Credit account titles are automatically indented when amount is entered. Do not indent manually, If no entry is required, select "No Entry" for the account titles and enter ofor the amounts. Record journal entries in the order presented in the problem. Round answers to 0 decimal places, e.s. 1,527.) 1. Services performed for customers through February 27,2025 , but unbilied and uncollected were $3,180. 2. Recelved notice that a customer who was billed 5160 for servecs performed February 10 has fled for bankruptcy. Sage Hal Cleaning Services does not expect to coliect any portion of this outstanding receivable, 3. Sage Hill Cleaning Services uses the allowance method to estimate bad debts. Sage Hili Cleaning Services estimates that 3% of its month-end receivables will not be collected. 4. Record 1 month of depreclation for the floor equipment. Use the straight-line method, an estimated life of 4 years, and $590 salvagevalue. 5. Record 1 month of insurance expense. 6. An inventory count shows $330 of supplies on hand at February 28. 7. One weck of services were performed for the customer who paid in sdvance on February 17. 8. Accrue for wages owed through February 28, 2025. 9. Accrue for interest expense for 1 month. 10. Karen estimates a 205 income tax fate. (Hint: Prepare an income statement up to Income before taxes: to help with the income taxcalculation) Karen Noonan opened Sage Hill Cleaning Services inc, on February 1, 2025, During February, the following transactions were completed. Feb. 1 Issued 4,100 shares of Sage Hill Cleaning Services commonstock for $10,660. Each share has a $1.50 par 1. Borrowed $6800 on a 2 year, 6% note payable 1. Paid $7,400 to purchase used floor and window cleaning equipment froma company going out of business (\$3,950 was for the floor equipment and $3,450 for the window equloment). 1. Paid \$178 tor February internet and phone services. 3. Purchased cleaning supplies for $800 on account. 4 Hired 4 employees Each will by pald $390 per 5-day work week (Manday-Friday) Employees will begin working Mondw, February 9. 5 Obtained insurance cowerage for $7,380 per year. Coverage runs from February 1,2025 , through January 31, 2026. Karen paid $1,845 cash tor the first quarter of coverage. 5 Discussions with the insurance agent indlicated that providing outside window cleaning services would cost too much to insure. Karen sold the window cleaning equipment for $3.240cash 16 Eilled custoeners $3,200 for cleaning services performed throuph feheuary 13,2025. 17 Received $432 from a customer for 4 weeks of clearing services to begin February 21, 2025, (B) ypaying in advance, this customer received 10% off the normal weelly foe of $120.] 18. Paid \$250 on amount owed on cleaning supplies. 20. Paid $3 per share to buy 250 shares of 5 age Hal Cleaning Services common stock from a shareholder who disagred with management goals. The shares will be held as treasury shares. 23 Billed customers 53,530 for cleaning services performed through February 20. 24 Paid cash for enployees' wayes for 2 weeks (February 913 and 1620 ). 25 Collected $2050 cash from custemers biled on February 16 27 Paid 5178 tor internet and phone services for March. 28. Declared and pald a cashdwidend of $020 per chare. \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Cash } \\ \hline 2/10 & 10500 & 2/1 & 7000 \\ \hline 2/1 & 6000 & 2/1 & 170 \\ \hline 2/5 & 3290 & 215 & \\ \hline 2/170 & 42 & 2/18 & 250 \\ \hline 2/258 & 2050 & 2/20: & 750 \\ \hline ;) & & 2/240 & 3120 \\ \hline & & 2/270 & 170 \\ \hline & & 2/280 & m0 \\ \hline 2/28Bal:; & 8091 & 4 & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Accounts Receivable } \\ \hline & 3200 & 2/258 & 2080 \\ \hline 2/230 & 2530 & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Accounts Payable } \\ \hline 2/108 & 200 & 2130 & 800 \\ \hline \end{tabular} \begin{tabular}{l} Notes Payatile \\ \hline+04000 \\ \hline \end{tabular} Journalize the following adjustments. (Credit account titles are automatically indented when amount is entered. Do not indent manually, If no entry is required, select "No Entry" for the account titles and enter ofor the amounts. Record journal entries in the order presented in the problem. Round answers to 0 decimal places, e.s. 1,527.) 1. Services performed for customers through February 27,2025 , but unbilied and uncollected were $3,180. 2. Recelved notice that a customer who was billed 5160 for servecs performed February 10 has fled for bankruptcy. Sage Hal Cleaning Services does not expect to coliect any portion of this outstanding receivable, 3. Sage Hill Cleaning Services uses the allowance method to estimate bad debts. Sage Hili Cleaning Services estimates that 3% of its month-end receivables will not be collected. 4. Record 1 month of depreclation for the floor equipment. Use the straight-line method, an estimated life of 4 years, and $590 salvagevalue. 5. Record 1 month of insurance expense. 6. An inventory count shows $330 of supplies on hand at February 28. 7. One weck of services were performed for the customer who paid in sdvance on February 17. 8. Accrue for wages owed through February 28, 2025. 9. Accrue for interest expense for 1 month. 10. Karen estimates a 205 income tax fate. (Hint: Prepare an income statement up to Income before taxes: to help with the income taxcalculation)