3-B

Problem 3.1A (Algo) Journalizing Transactions (LO3-3, LO3-4, LO3-5) Glenn Grimes is the founder and president of Heartland Construction a real estate development venture. The business transactions during February while the company was being organized are sted as follows Feb. 1 Ort and several other tested 100.000 cash in the bus in exchange for the capital Feb. 10 The company purchased office is for $220,00, of wich 8.0 was applicable to the land and 1180,00 building. A cash payment of 54.000 de and a stable as issued for the stance of the purchase price Feb. 16 Career was chated from Pris for 514,2 cash Feb. 1 of 1 furnished free way in cost of cash payt of to the ringlance in the listinench A. - Feb. 2 OFF w puwe orice work for Fundador the resort story note 23 artidisch stad toe such a criterishased on February 6thousavory 10 and charges Proposed to read the difference to seven daya by urine the first testate contable for office for purchased on February 1 Feb. 28 from Perid to foll settiment of the account recevable created on February Required: 4. Prepare journal entries to record the above transactions Select the appropriate account titles from the following chart of accounts. ca Accounts Receivable Office Supplies office Furnishings Computer Systems office building Totes Payable Accounts Payable Capital Stock b. Indicate the effects of each transaction on the company's assets, ies, and owners' equity for the month of February. The Feb. 1 transaction is provided for you Complete this question by entering your answers in the tabs below. Required A Required Indicate the effects of each transaction on the company's abilities, and owners equity for the month of February. The Feb. I transactions or deducted should be indicated with minut) Date Feb F10 Asti 500.000 Cash Owy 5 600.000 Cock Feb 18 Feb 18 Fb 22 Feb 23 Feb 27 20