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Journalize these transactions Feb. 1 Issued 4,000 shares of Marin common stock for $11,180. Each share has a $1.50 par. 1 Borrowed $9,000 on a
Journalize these transactions
Feb. 1 | Issued 4,000 shares of Marin common stock for $11,180. Each share has a $1.50 par. | |
1 | Borrowed $9,000 on a 2-year, 6% note payable. | |
1 | Paid $7,760 to purchase used floor and window cleaning equipment from a company going out of business ($3,960 was for the floor equipment and $3,800 for the window equipment). | |
1 | Paid $190 for February Internet and phone services. | |
3 | Purchased cleaning supplies for $840 on account. | |
4 | Hired 4 employees. Each will be paid $410 per 5-day work week (Monday Friday). Employees will begin working Monday, February 9. | |
5 | Obtained insurance coverage for $11,040 per year. Coverage runs from February 1, 2017, through January 31, 2018. Karen paid $2,760 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 $3,400 cash. | |
16 | Billed customers $3,350 for cleaning services performed through February 13, 2017. | |
17 | Received $504 from a customer for 4 weeks of cleaning services to begin February 21, 2017. | |
18 | Paid $260 on amount owed on cleaning supplies. | |
20 | Paid $3 per share to buy 300 shares of Marin common stock from a shareholder who disagreed with management goals. The shares will be held as treasury shares. | |
23 | Billed customers $3,700 for cleaning services performed through February 20. | |
24 | Paid cash for employees wages for 2 weeks (February 913 and 1620). | |
25 | Collected $2,150 cash from customers billed on February 16. | |
27 | Paid $190 for Internet and phone services for March. | |
28 | Declared and paid a cash dividend of $0.35 per share. |
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