a. A vacant lot acquired for $83,000 cash is sold for $127,000 in cash. What is the effect of the sale on the total amount of the seller's (1) assets, (2) Habilities, and (3) stockholders' equity? of the effect is no change, then enter a "0" in amount box. Enter all dollar amounts as positive numbers. 1. Assets 2. Llabilities 3. Stockholders' Equity b. Assume that the seller owes $52,000 on a loan for the land. After receiving the $127,000 cash in (), the seller pays the $52,000 owed. What is the effect of this payment on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? of the effect is no change, then enter a "0" in amount box. Enter all dollar amounts as positive numbers 1. Assets 2. Liabilities 3. Stockholders' equity The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Accounts Payable $482 Fees Earned $3,105 762 Insurance Expense 603 Accounts Receivable Prepaid Insurance Cash 1,901 Land 2,300 1,878 653 Wages Expense Dividends 629 Common Stock 5,139 Prepare a trial balance. The total of the debits is $5,139 $8,726 $6,841 O$1,256