QUESTION FOUR - JOURNAL ENTRIES - 20 MARKS Dave Shurek started Hindsight Electric in February 2021. Hindsight completed the following transactions during February of the current year: Feb. 1 Began a Hindsight Electric company by investing $7,000 in cash and computer equipment having a $5,000 fair value. Feb. 2 Purchased electrical tools for $1,100 on account. Feb. 4 Completed hot tub electrical work for $1,900 on account. Feb. 8 Completed electrical panel upgrade for $500 cash. Feb. 10 Paid for the items purchased on credit on February 2. Feb. 14 Prepaid $1,600 for the annual rent. Feb. 18 Received $900 for the work completed on February 4. Feb. 27 D. Shurek withdrew $200 cash from the practice to pay personal expenses. Feb. 28 Paid the February utility bills, $100. REQUIRED: Prepare general journal entries to record the transactions. Include a brief description for each entry. ANSWER: QUESTION FOUR-JOURNAL ENTRIES - 20 MARKS - ACCOUNTS AND EXPLANATIONS PR DEBIT CREDIT DATE 2021 Feb 01