2. (12 points) Peggy's balance sheet as of December 31, 2019 is presented below: Cash Accounts receivable Prepaid expenses Property, plant, and equipment - at cost Accumulated depreciation TOTAL ASSETS $25,000 15,000 5.000 45.000 (10.000) $80.000 Accrued expenses payable Unearned revenues Long-term debt Common stock Additional paid-in-capital Retained earnings TOTAL LIABILITIES & STOCKHOLDERS' EQUITY $10,000 4,000 21.000 5,000 25,000 15.000 $80.000 1. During January 2020, Peggy recorded the following events transactions: Received $4,000 from issuing 400 shares of $1 par value Peggy common stock (When recording this entry, Peggy credited TWO distinct owners' equity accounts - check Peggy's 12-31-19 balance sheet and you will find the two distinct accounts.) 11. Borrowed $10,000 on a long-term basis. 111. Used one month's worth ($2,500) of various prepaid expenses. Paid $500 for February 2020's prepaid advertising. Performed $7,000 of services for customers on a cash basis. Incurred and paid $5,000 of wages expense. V11. Collected $10,000 of accounts receivable. Performed services to earn $3,000 of Peggy's 12-31-19 balance in unearned revenues. 1V V1. V111 a Prepare the journal entries for the eight events transactions identified above. No not forget to code each account that you debited and credited. Use the coding scheme identified in the general homework instructions. Remember to use only codes of A or L or EQ or R or EX. Prepare Peggy's balance sheet for the month ended 01-31-20. b