Sun Devil Hair Design has the following transactions during the month of February. February2 Provide services to

Question:

Sun Devil Hair Design has the following transactions during the month of February.
February 2 Provide services to customers on account, $4,500.
February 7 Receivable cash from customers on account, $4,200.
February 14 Issue in exchange for cash, $10,000.
February 15 Pay employee salaries for the current month of $2,750.
February 25 Pay repairs and maintenance expenses, $2,200.
February 28 Purchase equipment with cash, $5,200.

Required:
Record each transaction. Sun Devil uses the following accounts: Cash, Accounts Receivable, Equipment, Common Stock, Service Revenue, Repairs and Maintenance Expense, and Salaries Expense.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...