Feb. 1		Issued 5,000 shares of Kingbird common stock for $9,620. Each share has a $1.50 par.
1		Borrowed $6,600 on a 2-year, 6% note payable.
1		Paid $6,670 to purchase used floor and window cleaning equipment from a company going out of business ($3,580 was for the floor equipment and $3,090 for the window equipment).
1		Paid $160 for February Internet and phone services.
3		Purchased cleaning supplies for $730 on account.
4		Hired 4 employees. Each will be paid $360 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 $2,920 cash.
16		Billed customers $2,890 for cleaning services performed through February 13, 2017.
17		Received $432 from a customer for 4 weeks of cleaning services to begin February 21, 2017.
18		Paid $220 on amount owed on cleaning supplies.
20		Paid $3 per share to buy 300 shares of Kingbird common stock from a shareholder who disagreed with management goals. The shares will be held as treasury shares.
23		Billed customers $3,180 for cleaning services performed through February 20.
24		Paid cash for employees wages for 2 weeks (February 913 and 1620).
25		Collected $1,850 cash from customers billed on February 16.
27		Paid $160 for Internet and phone services for March.
28		Declared and paid a cash dividend of $0.35 per share.

Journalize the following adjustments:

(1)		Services performed for customers through February 27, 2017, but unbilled and uncollected were $2,810.
(2)		Received notice that a customer who was billed $230 for services performed February 10 has filed for bankruptcy. Kingbird does not expect to collect any portion of this outstanding receivable.
(3)		Kingbird uses the allowance method to estimate bad debts. Kingbird estimates that 3% of its month-end receivables will not be collected.
(4)		Record 1 month of depreciation for the floor equipment. Use the straight-line method, an estimated life of 4 years, and $700 salvage value.
(5)		Record 1 month of insurance expense.
(6)		An inventory count shows $300 of supplies on hand at February 28.
(7)		One week of services were performed for the customer who paid in advance on February 17.
(8)		Accrue for wages owed through February 28, 2017.
(9)		Accrue for interest expense for 1 month.
(10)		Karen estimates a 20% income tax rate. (Hint: Prepare an income statement up to income before taxes to help with the income tax calculation.)