PLEASE SHOW THE LEDGERS FOR THE JOURNALS BELOW

Journal Description Credit Post Ref. 101 301 Debit $40,000.00 1/1/2020 CASH CAPITAL STOCK $40,000.00 1 BARBER CHAIR #1 BARBER CHAIR #2 CASH 110 112 101 $3,000.00 $2,400.00 $5,400.00 $3,300.00 1 PREPAID INSURANCE CASH 106 101 $3,300.00 $110.00 2 ADVERTISING EXPENSE CASH 507 101 $110.00 $8,400.00 2 PREPAID RENT CASH 105 101 $8,400.00 $410.00 6 SUPPLIES ACCOUNTS PAYABLE 104 201 $410.00 $2,880.00 17 CASH FEES EARNED 101 401 $2,880.00 $750.00 19 SALARIES EXPENSE CASH 501 101 $750.00 $60.00 21 ACCOUNTS RECIABLE FEES EARNED 102 401 $60.00 $3.744.00 31 CASH FEES EARNED 101 401 $3,744.00 $3,000.00 31 SALARIES EXPENSE CASH 501 101 $3,000.00 $125.00 31 DIVIDENDS CASH 303 101 $125.00 ADJUSTING JOURNAL ENTRIES 31-Jan DEPRECIATION EXPENSE ACCUMULATED DEPRECIATION-BARBER CHAIR # 1 $20.00 504 111 $20.00 $20.00 31 DEPRECIATION EXPENSE ACCUMULATED DEPRECIATION-BARBER CHAIR #2 504 114 $20.00 $900.00 31 SALARIES EXPENSE SALARIES PAYABLE 501 202 $900.00 $300.00 31 SUPPLIES EXPENSE SUPPLIES 503 104 $300.00 $405.00 31 UTILITY EXPENSE UTILITIES PAYABLE 506 204 $405.00 $275.00 31 INSURANCE EXPENSE PREPAID INSURANCE 505 106 $275.00 $2,100.00 31 RENT EXPENSE PREPAID RENT 502 105 $2,100.00 CLOSING ENTRIES 6,684.00 1/31/2020 FEES EARNED INCOME SUMMARY 401 $ 304 $ 6,684.00 6,684.00 31 INCOME SUMMARY SALARIES EXPENSE RENT EXPENSE UTILITIES EXPENSE SUPPLIES EXPENSE INSURANCE EXPENSE ADVERTISING EXPENSE DEPRECIATION EXPENSE 304 $ 501 502 503 503 505 507 504 $ $ $ $ $ $ $ 4,650.00 2,100.00 405.00 300.00 275.00 110.00 40.00 1,196.00 31 RETAINED EARNINGS INCOME SUMMARY 502 $ 304 $ 1,196.00 125.00 31 RETAINED EARNIGNS DIVIDENDS 302 $ 303 $ 125.00 FEBRUARY 640.00 2/1/2020 INVENTORY CASH 103 $ 101 $ 640.00 5,400.00 1 CASH UNEARNED FEES 101 $ 203 $ 5,400.00 4 SALARIES PAYABLE SALARIES EXPENSE CASH 202 $ 501 $ 101 900.00 310.00 $ 1,210.00 60.00 4 CASH ACCOUNTS RECEIVABLE 101 $ 102 $ 60.00 110.00 6 ADVERTISING EXPENSE CASH 507 $ 101 $ 110.00 405.00 8 UTILITIES PAYABLE CASH 204 $ 101 $ 405.00 630.00 $ 630.00 8 CASH SALES COST OF MERCHANDISE SOLD INVENTORY (LEFT IS 38 BOTTLES / $8) 101 $ 403 500 $ 103 336.00 $ 336.00 340.00 10 INVENTORY (40 BOTTLES/ $8.5) CASH 103 $ 101 $ 340.00 350.00 14 SUPPLIES ACCOUNTS PAYABLE 104 $ 201 $ 350.00 15 CASH FEES EARNED 101 $ 401 7,200.00 $ 7,200.00 750.00 $ 750.00 16 CASH FEES EARNED COST OF MERCHANDISE SOLD INVENTORY (LEFT IS 28 BOTTLES/ $8.5) 101) $ 401 500 $ 103 406.00 $ 406.00 1,510.00 18 SALARIES EXPENSE CASH 501 $ 101 $ 1,510.00 360.00 25 INVENTORY (40 BOTTLES/$9) ACCOUNTS PAYABLE 103 $ 201 $ 360.00 480.00 $ 480.00 26 ACCOUNTS RECEIVABLE FEES EARNED COST OF MERCHANDISE SOLD INVENTORY (LEFT IS 38 BOTTLES/ $9) 102 $ 401 500 $ 103 256.00 $ 256.00 7.890.00 27 CASH FEES EARNED 101 $ 401 $ 7,890.00 3,000.00 28 SALARIES EXPENSE CASH 501 $ 101 $ 3,000.00 303 $ 600.00 28 DIVIDENDS CASH $ 600.00 FEB. ADJUSTING JOURNAL ENTRIES 20.00 29 DEPRECIATION EXPENSE ACCUMULATED DEPRECIATION-BARBER CHAIR #1 504 $ 111 $ 20.00 20.00 29 DEPRECIATION EXPENSE ACCUMULATED DEPRECIATION-BARBER CHAIR #2 504 $ 113 $ 20.00 880.00 29 SALARIES EXPENSE SALARIES PAYABLE 501 202 $ 880.00 260.00 29 SUPPLIES EXPENSE SUPPLIES 503 $ 104 $ 260.00 525.00 29 UTILITIES EXPENSE UTILITIES PAYABLE 506 $ 204 $ 525.00 18.00 29 COST OF MERCHANDISE SOLD INVENTORY 500 $ 103 $ 18.00 275.00 29 INSURANCE EXPENSE PREPAID INSURANCE 505 $ 106 $ 275.00 2,100.00 29 RENT EXPENSE PREPAID RENT 502 $ 105 $ 2,100.00 Name ACCT2401 Billy Bob's Barber Shop Project Transactions for February 2020 1 Use the following transactions to complete the first month of the Billy Bob's Barber Shop. Feb. Billy Bob purchased 80 bottles of shampoo/conditioner for $8/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 $5,400. 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 $1,210. *Do not forget that a portion of the hair stylist's salaries were recorded as an expense at the end of January. 4 Received cash of $60 from the family who received haircuts on January 21st 6 Paid cash for an advertisement in the local newspaper, $110. 8 Paid cash for the utility bill received at the end of January. 8 Sold 42 bottles of the shampoo/conditioner at a price of $15/bottle receiving cash. 10 Billy Bob purchased 40 bottles of shampoo/conditioner for $8.50/each. The bottles of shampoo/conditioner are to be held for resale. 14 Purchased supplies on account, $350. 15 Collected cash of $7,200 from customers who got haircuts in the first two weeks of February 16 Sold 50 bottles of the shampoo/conditioner at a price of $15/bottle receiving cash. 18 Paid the hair stylist cash of $1,510. 25 Purchased 40 bottles of shampoo/conditioner on account. The price was $9/each. The bottles of shampoo/conditioner are to be held for resale. 26 Sold 30 bottles of the shampoo/conditioner at a price of $16/bottle receiving cash. 27 Collected cash of $7,890 from customers who got haircuts within the last two weeks. 28 Billy paid himself a salary of $3,000 and a dividend of $600 for the month of February oth annn Journal Description Credit Post Ref. 101 301 Debit $40,000.00 1/1/2020 CASH CAPITAL STOCK $40,000.00 1 BARBER CHAIR #1 BARBER CHAIR #2 CASH 110 112 101 $3,000.00 $2,400.00 $5,400.00 $3,300.00 1 PREPAID INSURANCE CASH 106 101 $3,300.00 $110.00 2 ADVERTISING EXPENSE CASH 507 101 $110.00 $8,400.00 2 PREPAID RENT CASH 105 101 $8,400.00 $410.00 6 SUPPLIES ACCOUNTS PAYABLE 104 201 $410.00 $2,880.00 17 CASH FEES EARNED 101 401 $2,880.00 $750.00 19 SALARIES EXPENSE CASH 501 101 $750.00 $60.00 21 ACCOUNTS RECIABLE FEES EARNED 102 401 $60.00 $3.744.00 31 CASH FEES EARNED 101 401 $3,744.00 $3,000.00 31 SALARIES EXPENSE CASH 501 101 $3,000.00 $125.00 31 DIVIDENDS CASH 303 101 $125.00 ADJUSTING JOURNAL ENTRIES 31-Jan DEPRECIATION EXPENSE ACCUMULATED DEPRECIATION-BARBER CHAIR # 1 $20.00 504 111 $20.00 $20.00 31 DEPRECIATION EXPENSE ACCUMULATED DEPRECIATION-BARBER CHAIR #2 504 114 $20.00 $900.00 31 SALARIES EXPENSE SALARIES PAYABLE 501 202 $900.00 $300.00 31 SUPPLIES EXPENSE SUPPLIES 503 104 $300.00 $405.00 31 UTILITY EXPENSE UTILITIES PAYABLE 506 204 $405.00 $275.00 31 INSURANCE EXPENSE PREPAID INSURANCE 505 106 $275.00 $2,100.00 31 RENT EXPENSE PREPAID RENT 502 105 $2,100.00 CLOSING ENTRIES 6,684.00 1/31/2020 FEES EARNED INCOME SUMMARY 401 $ 304 $ 6,684.00 6,684.00 31 INCOME SUMMARY SALARIES EXPENSE RENT EXPENSE UTILITIES EXPENSE SUPPLIES EXPENSE INSURANCE EXPENSE ADVERTISING EXPENSE DEPRECIATION EXPENSE 304 $ 501 502 503 503 505 507 504 $ $ $ $ $ $ $ 4,650.00 2,100.00 405.00 300.00 275.00 110.00 40.00 1,196.00 31 RETAINED EARNINGS INCOME SUMMARY 502 $ 304 $ 1,196.00 125.00 31 RETAINED EARNIGNS DIVIDENDS 302 $ 303 $ 125.00 FEBRUARY 640.00 2/1/2020 INVENTORY CASH 103 $ 101 $ 640.00 5,400.00 1 CASH UNEARNED FEES 101 $ 203 $ 5,400.00 4 SALARIES PAYABLE SALARIES EXPENSE CASH 202 $ 501 $ 101 900.00 310.00 $ 1,210.00 60.00 4 CASH ACCOUNTS RECEIVABLE 101 $ 102 $ 60.00 110.00 6 ADVERTISING EXPENSE CASH 507 $ 101 $ 110.00 405.00 8 UTILITIES PAYABLE CASH 204 $ 101 $ 405.00 630.00 $ 630.00 8 CASH SALES COST OF MERCHANDISE SOLD INVENTORY (LEFT IS 38 BOTTLES / $8) 101 $ 403 500 $ 103 336.00 $ 336.00 340.00 10 INVENTORY (40 BOTTLES/ $8.5) CASH 103 $ 101 $ 340.00 350.00 14 SUPPLIES ACCOUNTS PAYABLE 104 $ 201 $ 350.00 15 CASH FEES EARNED 101 $ 401 7,200.00 $ 7,200.00 750.00 $ 750.00 16 CASH FEES EARNED COST OF MERCHANDISE SOLD INVENTORY (LEFT IS 28 BOTTLES/ $8.5) 101) $ 401 500 $ 103 406.00 $ 406.00 1,510.00 18 SALARIES EXPENSE CASH 501 $ 101 $ 1,510.00 360.00 25 INVENTORY (40 BOTTLES/$9) ACCOUNTS PAYABLE 103 $ 201 $ 360.00 480.00 $ 480.00 26 ACCOUNTS RECEIVABLE FEES EARNED COST OF MERCHANDISE SOLD INVENTORY (LEFT IS 38 BOTTLES/ $9) 102 $ 401 500 $ 103 256.00 $ 256.00 7.890.00 27 CASH FEES EARNED 101 $ 401 $ 7,890.00 3,000.00 28 SALARIES EXPENSE CASH 501 $ 101 $ 3,000.00 303 $ 600.00 28 DIVIDENDS CASH $ 600.00 FEB. ADJUSTING JOURNAL ENTRIES 20.00 29 DEPRECIATION EXPENSE ACCUMULATED DEPRECIATION-BARBER CHAIR #1 504 $ 111 $ 20.00 20.00 29 DEPRECIATION EXPENSE ACCUMULATED DEPRECIATION-BARBER CHAIR #2 504 $ 113 $ 20.00 880.00 29 SALARIES EXPENSE SALARIES PAYABLE 501 202 $ 880.00 260.00 29 SUPPLIES EXPENSE SUPPLIES 503 $ 104 $ 260.00 525.00 29 UTILITIES EXPENSE UTILITIES PAYABLE 506 $ 204 $ 525.00 18.00 29 COST OF MERCHANDISE SOLD INVENTORY 500 $ 103 $ 18.00 275.00 29 INSURANCE EXPENSE PREPAID INSURANCE 505 $ 106 $ 275.00 2,100.00 29 RENT EXPENSE PREPAID RENT 502 $ 105 $ 2,100.00 Name ACCT2401 Billy Bob's Barber Shop Project Transactions for February 2020 1 Use the following transactions to complete the first month of the Billy Bob's Barber Shop. Feb. Billy Bob purchased 80 bottles of shampoo/conditioner for $8/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 $5,400. 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 $1,210. *Do not forget that a portion of the hair stylist's salaries were recorded as an expense at the end of January. 4 Received cash of $60 from the family who received haircuts on January 21st 6 Paid cash for an advertisement in the local newspaper, $110. 8 Paid cash for the utility bill received at the end of January. 8 Sold 42 bottles of the shampoo/conditioner at a price of $15/bottle receiving cash. 10 Billy Bob purchased 40 bottles of shampoo/conditioner for $8.50/each. The bottles of shampoo/conditioner are to be held for resale. 14 Purchased supplies on account, $350. 15 Collected cash of $7,200 from customers who got haircuts in the first two weeks of February 16 Sold 50 bottles of the shampoo/conditioner at a price of $15/bottle receiving cash. 18 Paid the hair stylist cash of $1,510. 25 Purchased 40 bottles of shampoo/conditioner on account. The price was $9/each. The bottles of shampoo/conditioner are to be held for resale. 26 Sold 30 bottles of the shampoo/conditioner at a price of $16/bottle receiving cash. 27 Collected cash of $7,890 from customers who got haircuts within the last two weeks. 28 Billy paid himself a salary of $3,000 and a dividend of $600 for the month of February oth annn