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Comprehensive Accounting Cycle Review 11-02 (Part Level Submission) Karen Noonan opened Marin Cleaning Services Inc. on February 1, 2022. During February, the following transactions were completed: Feb. 1 1 1 Issued 5,100 shares of Marin Cleaning Services common stock for $13,260. Each share has a $1.50 par. Borrowed $8,160 on a 2-year, 6% note payable. Paid $9,200 to purchase used floor and window cleaning equipment from a company going out of business ($4,920 was for the floor equipment and $4,280 for the window equipment). Paid $220 for February Internet and phone services. Purchased cleaning supplies for $1,000 on account. Hired 4 employees. Each will be paid $490 per 5-day work week (Monday- Friday). Employees will begin working Monday, February 9. Obtained insurance coverage for $10,040 per year. Coverage runs from February 1, 2022, through January 31, 2023. Karen paid $2,510 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 $4,030 cash. Billed customers $3,980 for cleaning services performed through February 13, 2022. Received $540 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 $150.) Paid $310 on amount owed on cleaning supplies. Paid $3 per share to buy 310 shares of Marin Cleaning Services common stock from a shareholder who disagreed with management goals. The shares will be held as treasury shares. Billed customers $4,390 for cleaning services performed through February 20. Paid cash for employees' wages for 2 weeks (February 9-13 and 16-20). Collected $2,550 cash from customers billed on February 16. Paid $220 for Internet and phone services for March. Declared and paid a cash dividend of $0.30 per share. 17 18 Paid 23 24 25 27 28 (a) Journalize the February transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Feb. 1 (To record issuance of common stock in excess of par) Feb. 1 (To record purchase of notes payable) Feb. 1 + (To record purchase of equipment) Feb. 1 (To record payment of internet and phone services) Feb. 3 Feb. 4 Feb. 5 Feb. 5 (To record payment of insurance) Feb. 5 (To record sale of equipment) Feb. 16 Feb. 17 Feb. 18 Feb. 20 Feb. 23 Feb. 24 Feb. 25 4 Feb. 27 ^ Feb. 28 Click if you would like to Show Work for this question: Open Show Work

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