Declared and paid a cash dividend of $0.35 per share. help with the debit and cr

Question

Declared and paid a cash dividend of $0.35 per share.

help with the debit and credits plzz

eb. 1 Issued 4,600 shares of Clean Sweep common stock for $16,120. Each share has a $1.50 par. 1 Borrowed $9,000 on a 2-year, 6% note payable. 1 Paid $11,180 to purchase used floor and window cleaning equipment from a company going out of business ($5,120 was for the floor equipment and $6,060 for the window equipment). 1 Paid $270 for February Internet and phone services. 3 Purchased cleaning supplies for $1,220 on account. 4 Hired 4 employees. Each will be paid $600 per 5-day work week (Monday– Friday). Employees will begin working Monday, February 9. 5 Obtained insurance coverage for $11,040 per year. Coverage runs from February 1, 2017, through January 31, 2018. Karen paid $2,760 cash for the first quarter of coverage. 5 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 $4,900 cash. 16 Billed customers $4,840 for cleaning services performed through February 13, 2017. 17 Received $432 from a customer for 4 weeks of cleaning services to begin February 21, 2017. 18 Paid $370 on amount owed on cleaning supplies. 20 Paid $3 per share to buy 300 shares of Clean Sweep common stock from a shareholder who disagreed with management goals. The shares will be held as treasury shares. 23 Billed customers $5,330 for cleaning services performed through February 20. 24 Paid cash for employees’ wages for 2 weeks (February 9–13 and 16–20). 25 Collected $3,100 cash from customers billed on February 16. 27 Paid $270 for Internet and phone services for March. 28

Declared and paid a cash dividend of $0.35 per share.

help with the debit and credits plzz

Date Account Titles and Explanation Debit Credit Feb. 1 Cash Common Stock Paid-in Capital in Excess of Par Value-Common Stock (To record issuance of common stock in excess of par) Cash Feb. 1 Notes Payable To record purchase of notes payable) Feb. 1 |Equipment Cash To record purchase of equipment) Feb. 1 | lities Expense Cash (To record payment of internet and phone services) Feb. 3 upplies Accounts Payable Feb. 4 No Entry No Entry Feb. 5 Prepaid Insurance Cash (To record payment of insurance) Feb. 5 TCash Loss on Disposal of Plant Assets

Explanation / Answer

Journal entries for the month of February Date Account Title and explanation Debit Credit Feb.1 Cash 16120 Common stock 6900 Additional paid-in-capital - common stock 9220 (To record issue of 4,600 shares of common stock) Feb.1 Cash 9000 Notes payable 9000 (To record purchase of note payable) Feb.1 Equipment 11180 Cash 11180 (To record purchase of cleaning equipment ) Feb.1 Utilities expense 270 Cash 270 (To record payment for internet and phone services) Feb.3 Cleaning supplies 1220 Accounts payable 1220 (To record purchase of cleaning supplies on account) Feb.4 No entry required. Feb.5 Insurance expense 920 Prepaid insurnace 1840 Cash 2760 (To record payment for insurance for three months) Feb.5 Cash 4900 Loss on sale of equipment 1160 Equipment 6060 (To record sale of window cleaning equipment) Feb.16 Accounts receivable 4840 Service revenue 4840 (To record billing for services provided) Feb.17 Cash 432 Unearned service revenue 432 (To record cash received for services to be performed) Feb.18 Accounts payable 370 Cash 370 (To record on account payment to suppliers) Feb.20 Treasury stock 900 Cash 900 (To record purchase of shares from a shareholder) Feb.23 Accounts receivable 5330 Service revenue 5330 (To record billing for services provided) Feb.24 Salaries and wages expense 4800 Cash 4800 (To record payment of wages to 4 employees for 2 weeks) Feb.25 Cash 3100 Accounts receivable 3100 (To record cash received from customers on account) Feb.27 Prepaid utilities 270 Cash 270 (To record payment of internet charges for March) Feb.28 Dividends 1505 Cash 1505 (To record payment of cash dividend on 4300 shares @$0.35 per share)

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