Journalize the February transactions

Karen Noonan opened Kingbird Cleaning Services Inc. on February 1, 2022. During February, the following transactions were completed: Feb. 1 1 1 3 4 5 Issued 3,700 shares of Kingbird Cleaning Services common stock for $9,620. Each share has a $1.50 par. Borrowed $5,920 on a 2-year, 6% note payable. Paid $6,670 to purchase used floor and window cleaning equipment from a company going out of business ($3,570 was for the floor equipment and $3,100 for the window equipment). Paid $160 for February Internet and phone services. Purchased cleaning supplies for $730 on account. Hired 4 employees. Each will be paid $360 per 5-day work week (Monday- Friday). Employees will begin working Monday, February 9. Obtained insurance coverage for $7,280 per year. Coverage runs from February 1, 2022, through January 31, 2023. Karen paid $1,820 cash for the first quarter of coverage. 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. Billed customers $2,890 for cleaning services performed through February 13, 2022. Received $396 from a customer for 4 weeks of cleaning services to begin February 21, 2022. (By paying in advance, this customer received 10% off the normal weekly fee of $110.) Paid $220 on amount owed on cleaning supplies. Paid $3 per share to buy 220 shares of Kingbird Cleaning Services common stock from a shareholder who disagreed with management goals. The shares will be held as treasury shares. Billed customers $3,180 for cleaning services performed through February 20. Paid cash for employees' wages for 2 weeks (February 9-13 and 16-20). Collected $1,850 cash from customers billed on February 16. Paid $160 for Internet and phone services for March. Declared and paid a cash dividend of $0.15 per share. 16 17 18 20 23 24 25 27 28