LO3-7 through LO3-9 Clown Around. Inc. provides party entertainment for children of all ages. The company's irial hal- PROBLEM 3.6B ance dated Februany 1, 2015, is shown below. Short Comprehensive Problem Clown Around engaged in the following transactions in February: Feb. 2 Paid $750 in partial settlement of the outstanding account payable reported in the trial balance dated February 1. Feb. 6 Collected $900 in full settlement of the oulstanding accounts receivable reported in the trial balance dated February 1. Feb. 18 Billed Sunflower Child Care $175 for clown serviees. The entire antount is due March 15. Feb. 26 Billed and collected 5480 for performing at several birthday parties. Feb. 28 Paid clown salaries of $260 for work done in February. Feb. 28 Recorded and paid 540 for travel expenses incurred in Febriary. Feb. 28 Declared and paid a 5100 dividend to Ralph Jaschoh, the company's only sharcholder. a. Record the company's February transactions in gencral journal form. Include a brief explanation of the transaction as part of each journal entry. b. Post each entry to the appropriate ledger accounts (use the T account format as illustrated in Exhibit 38 on page 1101