Transactions Using Accrual Accounting

Terry Mason organized The Fifth Season at the beginning of February 20Y4. During February, The Fifth Season entered into the following transactions:

Terry Mason invested $26,375 in The Fifth Season in exchange for common stock.

Paid $5,460 on February 1 for an insurance premium on a 1-year policy.

Purchased supplies on account, $1,560.

Received fees of $37,035 during February.

Paid expenses as follows: wages, $15,000; rent, $2,500; utilities, $1,250; and miscellaneous, $1,375.

Paid dividends of $9,525.

Record the preceding transactions using the integrated financial statement framework. After each transaction, enter a balance for each item. If an amount box does not require an entry, leave it blank. Enter account decreases and net cash outflows as negative amounts.