Barbara Jones opened Barb$$s Book Business on February $1.$ You have been hired to maintain the company$$s financial records. The following transactions occurred in February, the first month of operations.

a$.$ Received shareholders$$ cash contributions on February $1$ totaling $$23,000$ to form the corporation; issued $1,000$ shares of common stock.

b$.$ Paid $$2,625$ cash on February $2$ for three months$$ rent for office space.

TIP: For convenience, simply record the full amount of the payment as an asset $($Prepaid Rent$).$ At the end of the month, this account will be adjusted to its proper balance.

c$.$ Purchased and received supplies on February $3$ for $$330$ cash.

d$.$ Signed a promissory note on February $4,$ payable in two years; deposited $$15,600$ in the company$$s bank account.

e$.$ On February $5,$ paid cash to buy equipment for $$5,400$ and land for $$10,200.$

f$.$ Placed an advertisement in the local paper on February $6$ for $$740$ cash.

g$.$ Recorded sales on February $7$ totaling $$3,950$; $$1,700$ was in cash and the rest on accounts receivable.

h$.$ Collected accounts receivable of $$114$ from customers on February $8.$

i$.$ On February $9,$ repaired one of the computers for $$139$ cash.

TIP: Most repairs involve costs that do not provide additional future economic benefits.

j$.$ Incurred and paid employee wages on February $28$ of $$850.$