A group of students forms their own company called Starr Enterprises that will perform financial consulting services. Starr incurs the following economic events during its first month of operations in January 2017: Receives equity financing of $160,000 from friends and family Buys land for $20,000, paying 10% down with the seller financing the remainder on a five-year balloon note(100% principal paid in five years) at 10% simple annual interest Orders office supplies in the amount of $250 Purchased servers and a phone system for $25,000 which will have a five-year life and no residual value Received supplies frorn #3 with 30 day payment terms 1. 2. 3. 4. 5. Prepare all journal entries (transaction and adjusting), except for closing entries a. b. Prepare t-accounts to show posting the journal entries C. Prepare a balance sheet in good form