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Karen Noonan opened Skysong Cleaning Services Inc. on February 1, 2022. During February, the following transactions were completed: Feb. 1 1 1 1 3 4 4 5 5 Issued 5,500 shares of Skysong Cleaning Services common stock for $14,300. Each share has a $1.50 par. Borrowed $8,800 on a 2-year, 6% note payable. Paid $9,920 to purchase used floor and window cleaning equipment from a company going out of business ($5,300 was for the floor equipment and $4.620 for the window equipment). Paid $240 for February Internet and phone services. Purchased cleaning supplies for $1,080 on account. Hired 4 employees. Each will be paid $530 per 5-day work week (Monday-Friday). Employees will begin working Monday, February 9. Obtained insurance coverage for $10,820 per year. Coverage runs from February 1, 2022, through January 31, 2023. Karen paid $2,705 cash for the first quarter of coverage. 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 $4.350 cash. Billed customers $4.290 for cleaning services performed through February 13, 2022. Received $612 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 $170.) Paid $330 on amount owed on cleaning supplies. Paid $3 per share to buy 330 shares of Skysong Cleaning Services common stock from a shareholder who disagreed with management goals. The shares will be held as treasury shares. Billed customers $4.730 for cleaning services performed through February 20. Paid cash for employees' wages for 2 weeks (February 9-13 and 16-20). Collected $2,750 cash from customers billed on February 16. Paid $240 for Internet and phone services for March. Declared and paid a cash dividend of $0.25 per share. 16 17 18 20 23 24 25 27 lal Journalise the February transactions Credit account there automatically indeed when amount is entered Domein many no entry is required, select "No Entry for the accounties and enter for the amounts Recordjoumal entries in the order prodh the problem.) Date Account Titles and Explanation Debit Credit (To record issuance of common stock in excess of par) (To record purchase of notes payable) (To record purchase of equipment) (To record payment of internet and phone services) (To record payment of insurance) (To record sale of equipment Question 1 of 1 - 50 1 (To record payment of insurance) (To record sale of equipment)

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