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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,

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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 $24,000 to form the corporation, issued 1,000 shares of common stock b. Paid $3180 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 $315 cash. d. Signed a promissory note on February 4. payable in two years: deposited $17.200 in the company's bank account e On February 5, paid cash to buy equipment for $5,350 and land for $11.850 Placed an advertisement in the local paper on February 6 for $675 cash. g Recorded sales on February 7 totaling $2.550, $1,820 was in cash and the rest on accounts receivable h Collected accounts receivable of $90 from customers on February 8 On February 9, repaired one of the computers for $132 cash TIP. Most repairs involve costs that do not provide additional future economic benefits Incurred and paid employee wages on February 28 of $475. - Cry Winsdet 2 3 4 1 5 6 8 7 9 10 > Received shareholders' cash contributions on February 1 totaling $24,000 to form the corporation; issued 1,000 shares of common stock. Record the transaction Note: Enter debits before credits. General Journal Debit Credit Date Feb 01 3 4 5 6 7 8 9 10 > Paid $3,180 cash on February 2 for three months' rent for office space. Record the transaction. Note: Enter debits before credits. Date General Journal Debit Credit Feb 02 Journal entry worksheet Signed a promissory note on February 4, payable in two years; deposited $17,200 in the company's bank account. Record the transaction. Note: Enter debits before credits. Date General Journal Feb 04 Debit Credit Journal entry worksheet Collected accounts receivable of $90 from customers on February 8. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Date Feb 08 ournal entry worksheet 1 2 3 4 5 6 7 8 9 On February 9, repaired one of the computers for $132 cash. Record the transaction. lote: Enter debits before credits. Date General Journal Feb 09 D ebit Credit 1 Journal entry worksheet

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