Arranging Balance Sheets WER Corp had the following transactions during the first month of operations. You need to record these transactions in thejournal entry template.Received $150,000 cash from investors for ownership in the company.Purchased inventory to be sold to customers; $45,000 on account.Rented office space; $6,000 was paid for this month.Sold $5,000 of inventory on account (you have not been paid yet); sales price of $7,500.Acquired office furniture for $3,000 cash.Paid $12,000 to employees who worked this month.Acquired manufacturing equipment costing $39,000; paid cash.Paid $700 for housekeeping service.Received a $100 utility bill for this month.Collected $7,500 owed from customers.In addition, you need to determine the balance in the cash account at the end of the first month.