Post to the ledger accounts. (Post entries in the order of journal entries presented above.) Accounts Receivable Supplies Prepaid Insurance Prepaid Expenses Equipment Accounts Payable Notes Payable Unearned Service Revenue Common Stock Paid in Capital in Excess of Par Cash Dividends Treasury Stock Service Revenue Utilities Expense Salaries and Wages Expense Loss on Disposal of Plant Assets eb. 1 Issued 4,000 shares of Metlock Cleaning Services common stock for $10.400. Each share has a $1.50 1 Borrowed $6,400 on a 2-year, 6\% note payable. 1 Paid $7.220 to purchase used floor and window cleaning equipment from a company going out of business ( $3,860 was for the floor equipment and $3,360 for the window equipment). 1 Paid $180 for February Internet and phone services. 3 Purchased cleaning supplies for $780 on account. 4 Hired 4 employees. Each will be paid $380 per 5-day work week (Monday- Friday). Employees will begin working Monday, February 9. 5 Obtained insurance coverage for $7,870 per year. Coverage runs from February 1, 2022, through January 31,2023 . Karen paid $1,968 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 $3,160 cash. 16 Billed customers $3,120 for cleaning services performed through February 13, 2022. 17 Received $432 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 $120. ) 18 Paid $240 on amount owed on cleaning supplies. 20 Paid $3 per share to buy 240 shares of Metlock Cleaning Services common stock from a shareholder who disagreed with management goals. The shares will be held as treasury shares. 23 Billed customers $3,440 for cleaning services performed through February 20. 24 Paid cash for employees' wages for 2 weeks (February 9-13 and 16-20). 25 Collected $2,000 cash from customers billed on February 16. 27 Paid $180 for internet and phone services for March. 28 Declared and paid a cash dividend of $0.20 per share. Date Account Titles and Explanation (To record issuance of common stock in excess of par) (To record purchase of notes payable) Feb. 1 \begin{tabular}{l|l|} \hline Equipment & 7220 \end{tabular} (To record purchase of equipment) Utilities Expense Cash (To record payment of internet and phone services) Supplies Accounts Payable No Entry No Entry Question 1 of 1 (To record sale of equipment) Feb. 24 Salaries and Wages Expense Cash Feb. 25 Cash Accounts Receivable Feb. 27 Prepaid Expenses Cash Feb. 28 Dividends Payable 752 Cash
