Journalize transactions for February 2020. Use the following transactions to complete the first month of the Billy Bobs Barber Shop.

Feb. 1 Billy Bob purchased 40 bottles of shampoo/conditioner for $5/each. The bottles of shampoo/conditioner are to be held for resale. Billy uses the perpetual method. Billy uses the FIFO method to account for inventory.

1 Blizzard Inc. hired the barber shop to provide haircuts to its employees for the next six months. Blizzard Inc. paid the barber shop $4,800. The barber shop in return must provide haircuts for Blizzard Inc. employees for the next 6 months at no cost.

4 Paid the hair stylist cash of $1,080. *Do not forget that a portion of the hair stylists salaries were recorded as an expense at the end of January.

4 Received cash of $50 from the family who received haircuts on January 21st.

6 Paid cash for an advertisement in the local newspaper, $150.

8 Paid cash for the utility bill received at the end of January.

8 Sold 22 bottles of the shampoo/conditioner at a price of $10/bottle receiving cash.

10 Billy Bob purchased 20 bottles of shampoo/conditioner for $5.50/each. The bottles of shampoo/conditioner are to be held for resale.

14 Purchased supplies on account, $650.

15 Collected cash of $4,900 from customers who got haircuts in the first two weeks of February.

16 Sold 25 bottles of the shampoo/conditioner at a price of $12/bottle receiving cash.

18 Paid the hair stylist cash of $1,080.

25 Purchased 20 bottles of shampoo/conditioner on account. The price was $6/each. The bottles of shampoo/conditioner are to be held for resale.

26 Sold 15 bottles of the shampoo/conditioner at a price of $10/bottle receiving cash.

27 Collected cash of $4,250 from customers who got haircuts within the last two weeks.

28 Billy paid himself a salary of $2,000 and a dividend of $600 for the month of February.

**January transactions are included for reference**

Help With Chego X + Jan. 1 t/30757/viewContent/769828/View Billy Bob's Barber Shop Project Transactions for January 2020 Use the following transactions to complete the first month of the Billy Bob's Barber Shop Billy Bob Caroll organized the barber shop as a corporation and invested his savings of $50,000 cash in the business in return for capital stock. 1 Paid cash for two barber chairs. The first chair (Barber Chair #1) cost $1,300. The second chair (Barber Chair #2) cost $600. "See ledger for account titles. 1 Paid cash for a one-year insurance policy $6,000. 2 Paid cash for a help wanted advertisement, $125. 2 Signed a contract to lease a building for $1,500 per month. Billy paid the first three months in advance. 6 Purchased supplies on account, $550. 17 A total of $3,800 in cash was collected from customers who got haircuts in the first two weeks of business. 19 Paid worker (hair stylist) cash of $800 for the first two weeks of wages. 21 Provided haircuts for a family of five for $50. The family did not have the cash but agreed to pay at the beginning of next month. 31 A total of $4,500 in cash was collected from customers who got haircuts within the last two weeks 31 Billy paid himself a salary of $2,000 for the month. 31 Billy paid himself a dividend of $250. ADJUSTMENT INFORMATION at January 31, 2020 1 1 2 3 hp Help With Chego X + Jan. 1 t/30757/viewContent/769828/View Billy Bob's Barber Shop Project Transactions for January 2020 Use the following transactions to complete the first month of the Billy Bob's Barber Shop Billy Bob Caroll organized the barber shop as a corporation and invested his savings of $50,000 cash in the business in return for capital stock. 1 Paid cash for two barber chairs. The first chair (Barber Chair #1) cost $1,300. The second chair (Barber Chair #2) cost $600. "See ledger for account titles. 1 Paid cash for a one-year insurance policy $6,000. 2 Paid cash for a help wanted advertisement, $125. 2 Signed a contract to lease a building for $1,500 per month. Billy paid the first three months in advance. 6 Purchased supplies on account, $550. 17 A total of $3,800 in cash was collected from customers who got haircuts in the first two weeks of business. 19 Paid worker (hair stylist) cash of $800 for the first two weeks of wages. 21 Provided haircuts for a family of five for $50. The family did not have the cash but agreed to pay at the beginning of next month. 31 A total of $4,500 in cash was collected from customers who got haircuts within the last two weeks 31 Billy paid himself a salary of $2,000 for the month. 31 Billy paid himself a dividend of $250. ADJUSTMENT INFORMATION at January 31, 2020 1 1 2 3 hp