Barbara Jones opened Barb's Book Business on February 1. You have been hired to maintain the company's financlal records. The following transactions occurred in February, the first month of operations. a. Recelved shareholders' cash contributions on February 1 totaling $18,000 to form the corporation; Issued 1,000 shares of common stock. b. Pald $2,595 cash on February 2 for three months' rent for office space. TIP: For convenlence, simply record the full amount of the payment as an asset (Prepald Rent). At the end of the month, this account will be adjusted to its proper balance. c. Purchased and recelved supplles on February 3 for $575 cash. d. Signed a promissory note on February 4 , payable In two years; deposited $15,700 in the company's bank account. e. On February 5 , pald cash to buy equipment for $6,500 and land for $9,200. f. Placed an advertisement in the local paper on February 6 for $685 cash. g. Recorded sales on February 7 totaling $3,650;$1,850 was in cash and the rest on accounts recelvable. h. Collected accounts recelvable of $118 from customers on February 8. 1. On February 9 , repalred one of the computers for $190 cash. TIP: Most repalrs involve costs that do not provide additional future economic benefits. 1. Incurred and paid employee wages on February 28 of $455. Required: 1. Prepare the journal entry for each of the above transactions. 2. Post the transaction activity from requirement 1 to the T-Accounts below. All accounts begin with zero balances because this is the first month of operations. 3. Prepare an unadjusted trial balance at the end of February. 4-a. Refer to the revenues and expenses shown on the unadjusted trlal balance. Based on this Information, calculate preliminary net Income and net profit margin? 4.b. Determine whether the net profit margin is better or worse than the 14 percent earned by a close competitor. View transaction list View journal entry worksheet Req 2 \begin{tabular}{|l|l|l|l|l|} \hline Req1 & Req2 & Req3 & Req 4A & Req4B \\ \hline \end{tabular} Reci 1 Rec 3 ? Complete this question by entering your answers in the tabs below. Prepare an unadjusted trial balance at the end of February. Complete this question by entering your answers in the tabs below. Refer to the revenues and expenses shown on the unadjusted trial balance. Based on this information, calculate preliminary net income and net profit margin? (Round your Net Profit Margin answer to 1 decimal place.) Complete this question by entering your answers in the tabs below. Determine whether the net profit margin is better or worse than the 14 percent earned by a close competitor