Burne: thomencrea 3 following is the nempary/s trial bulampe dated feberuary 1. rumet wear Perfect Farters engiged in the followit tratuactione in Febrant: Feb. 2. Fad 5890 in paral sembement of ehe ourstanded account payable repurnath in the thial balaret elated fetaruary 1 . balafiet tated Fe6ruary 1. feb. 28 Dad painter's cieinas of 5211 for work done it lebrugry. feb. 2 E Bacoided and puid 584 for Eravil cxperoas incuined in fubruaky. Bhouinfs: dopand as necistary. Deverigteats ane nut nemixary. Chaoder 5 .) Perfect Painters, Inc., provides painting services for both commercial and residential buildings. The following is the company's trial balance dated February 1 , current year. Perfect Painters engaged in the following transactions in February. Feb. 2 Paid $800 in partial settlement of the outstanding account payable reported in the trial balance dated February 1. Feb. 6 Collected $1,050 in full settlement of the outstanding accounts receivable reported in the trial balance dated February 1. Feb. 18 Billed Delta Deluxe $320 for painting services. The entire amount is due March 15. Feb. 26 Billed and collected $576 for painting at several residences. Feb. 28 Paid painter's salaries of $213 for work done in February. Feb. 28 Recorded and paid $84 for travel expenses incurred in February. Feb. 28 Declared and paid a $210 dividend to Abigail Rose, the company's only shareholder. Required: 1. Record the company's February transactions in general journal form. Table provided below, expand as necessary. Descriptions are not necessary. 2. Prepare a trial balance dated February 28, current year. (Hint: Retained Earnings will be reported at the same amount as it was on February 1. Accounting for changes in the Retained Earnings account resulting from revenue, expense, and dividend activities is discussed in Chapter 5.) 3. Will the $210 dividend paid on February 28 decrease the company's income? Explain. Name