Comprehensive Accounting Cycle Review 11-2 (Part Level Submission) Karen Noonan opened Sage Hill Inc. on February 1, 2017, During February, the folowing transactions were completed Feb. 1 Issued 4,800 shares of Sage Hill common stock for $10,660. Each share has a $1.50 par Borrowed $6,600 on a 2-year, 6% note payable. 1 Paid $7,400 to purchase used noor and window deaning equipment from a company gong out of business ($3,760-as for the floor equipment and $3,640 for the window equipment). 1 paid $180 for February 2nternet and phone services. 3 Purchased cleaning supples for $800 on account 4 Hired 4 emplayees. Each will be paid $390 per 5-day work week (Monday- Friday). Employees will begin working Monday, February 9 5 Obtained insurance coverage for $8,640 per year. Coverage runs from February 1, 2017, through January 31, 2018. Karen paid $2,160 cash for the first quarter of coverage 5 Discussions with the insurance agent indicated that providing outside window cleaning services would cost too much to insure. Karen sold the window cleaning equipment for $3,240 cash 6 Biled customers $3,200 for cleaning services performed through February 13, 2017 7 Recelived $432 from a customer for 4 weeks of cleaning services to begin February 21, 2017, 8 Paid $250 on amount wed on dleaning supplies 20 Peid $3 per share to buy 300 shares of Sage Hill common stock from a shareholder whe dsagreed with manegement goals. The shares will be held as treesury shares 3 led customers $3,530 for cleaning services performed through Februery 20 24 Paid cash for employees' wages for 2 weeks (February 9-13 and 16-20) 5 Collected $2,050 cash from customers biled on February 16 27 Paid $180 for Internet and phone services for March. 28 Declared and paid a cash dividend of $0.35 per share. Journalize the February transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If mo entry is required, select "No Entry" for the account tities and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Feb. 1 ash To record hsuance of common stock in excess of par) To record purchase of notes paryable) To record purchase of equipment) To record payment of internet and phone services) (To record payment of insurance) Feb. 5 (To record sale of equipment)