Glenn Grimes is the founder and president of Heartiend Construction, a real estate development venture. The business transactions during February while the company was being organized are listed as follows. Feb. 1 Grines and several others invested $620,00 cash in the business in exchange for 30,200 shares of capital stock. Feb. 10 The company purchased office facilities for $270,ese, of which $90,000 was applicable to the land and $180, 2e to the building. A cash payment of $54,eee was made and a note payable was issued for the balance of the purchase price. Feb. 16 Computer cquipment was purchased from PCWorld for $15,ese cash. Feb. 18 office furnishings were purchased from Hi-Way Furnishings at a cost of $9,950. A $985 cash payment was made at the time of purchase, and an agreement was made to pay the remaining balance in two equal installments due March 1 and April 1. Hi-Way Furnishings did not require that Heartland sign a promissory note. Feb. 22 office supplies were purchased from Office World for $375 cash. Feb. 23 Heartland discovered that it paid too much for a computer printer purchased on February 16. The unit should have cost only $360, but Heartland was charged $395. PCWorld promised to refund the difference within seven days. Feb. 27 Mailed Hi-Way Furnishings the first installment due on the account payable for office furnishings purchased on February 18. Feb. 28 Received $35 fron PCWorld in full settlement of the account receivable created on February 23. Required: a. Prepare journal entries to record the above transactions. Select the appropriate account titles from the following chart of accounts. Cash Accounts Receivable office Supplies office Furnishings Computer Systems Land office Building Notes Payable Accounts Payable Capital Stock b. Indicate the effects of esch transaction on the company's assets, liabilities, 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 B Prepare journal entries to record the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest dollar amounts.) View transaction let Journal entry worksheet 1 2 3 4 5 8 7 8 Record the issuance of 30,000 shares of Capital Stock. Note: Enter debits before credits General Journal Debit Credit Date Feb. 1 Record entry Clear entry View general Journal 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 listed as follows. Feb. 1 Grines and several others invested $628,000 cash in the business in exchange for 30,000 shares of capital stock. Feb. 1e The company purchased office facilities for $270,00, of which $90,000 was applicable to the land and $190,62e to the building. A cash payment of $54,62e was made and a note payable was issued for the balance of the purchase price. Feb. 16 Computer cquipment was purchased from PCWorld for $15,00 cash. Feb. 18 office furnishings were purchased from Hi-Way Furnishings at a cost of $9,850. A $985 cash payment was made at the time of purchase, and an agreement was made to pay the remaining balance in two equal installments due March 1 and April 1. Hi-Way Furnishings did not require that Heartland sign a promissory note. Feb. 22 office supplies were purchased from Office World for $375 cash. Feb. 23 Heartland discovered that it paid too much for a computer printer purchased on February 16. The unit should have cost only $360, but Heartland was charged $395. PCWorld promised to refund the difference within seven days. Feb. 27 Mailed Hi-Way Furnishings the first installment due on the account payable for office furnishings purchased on February 18. Feb. 28 Received $35 fron PCWorld in full settlement of the account receivable created on February 23. Required: a. Prepare journal entries to record the above transactions. Select the appropriate account titles from the following chart of accounts. Cash Accounts Receivable Office Supplies office Furnishings Computer Systems Land office Building Notes Payable Accounts Payable Capital Stock b. Indicate the effects of esch transaction on the company's assets, lisbilities, 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 B Prepare journal entries to record the above transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round your final answers to the nearest dollar amounts.) View transaction llet Journal entry worksheet Record the entry for refund due from PCWorld. Note: Enter debits before credits. Date General Journal Debit Credit Feb. 23 Record entry Clear entry View general Journal 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 listed as follows. Feb. 1 Grines and several others invested $620,000 cash in the business in exchange for 30,000 shares of capital stock. Feb. 12 The company purchased office facilities for $278,620, of which $90,000 was applicable to the land and $180,02e to the building. A cash payment of $54,62e was nade and a note payable was issued for the balance of the purchase price. Feb. 16 Computer cquipment was purchased from PCWorld for $15,000 cash. Feb. 18 office furnishings were purchased from Hi-Way Furnishings at a cost of $9,858. A $985 cash payment was made at the time of purchase, and an agreement was made to pay the remaining balance in two equal installments due March 1 and April 1. Hi-Way Furnishings did not require that Heartland sign a promissory note. Feb. 22 office supplies were purchased from Office World for $375 cash. Feb. 23 Heartland discovered that it paid too much for a computer printer purchased on February 16. The unit should have cost only $360, but Heartland was charged $395. PCWorld promised to refund the difference within seven days. Feb. 27 Mailed Hi-Way Furnishings the first installment due on the account payable for office furnishings purchased on February 18. Feb. 28 Received $35 fron PCWorld in full settlement of the account receivable created on February 23. Required: a. Prepare journal entries to record the above transactions. Select the appropriate account titles from the following chart of accounts. Land Cash Accounts Receivable Office Supplies office Furnishings Computer Systems office Building Notes Payable Accounts Payable Capital Stock b. Indicate the effects of each transaction on the company's assets, lisbilities, 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 B Prepare journal entries to record the above transactions. (Ir no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest dollar amounts.) View transaction list Journal entry worksheet 2 3 4 5 6 8 Record the entry for payment made on an account payable. Note: Enter debits before credits General Journal Debit Credit Date Feb. 27 Record entry Clear entry View general Journal 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 listed as follows. Feb. 1 Grines and several others invested $620,00 cash in the business in exchange for 30,000 shares of capital stock. Feb. 10 The company purchased office facilities for $270,ese, of which $90,000 was applicable to the land and $180, 2e to the building. A cash payment of $54,62e was made and a note payable was issued for the balance of the purchase price. Feb. 16 Computer cquipment was purchased from PCWorld for $15,00 cash. Feb. 18 Office furnishings were purchased from Hi-Way Furnishings at a cost of $9.950. A $985 cash payment was made at the time of purchase, and an agreement was made to pay the remaining balance in two equal installments due March 1 and April 1. Hi-Way Furnishings did not require that Heartland sign a promissory note. Feb. 22 office supplies were purchased from Office World for $375 cash. Feb. 23 Heartland discovered that it paid too much for a computer printer purchased on February 16. The unit should have cost only $360, but Heartland was charged $395. PCWorld promised to refund the difference within seven days. Feb. 27 Mailed Hi-Way Furnishings the first installment due on the account payable for office furnishings purchased on February 18. Feb. 28 Received $35 fron PCWorld in full settlement of the account receivable created on February 23. Required: a. Prepare journal entries to record the above transactions. Select the appropriate account titles from the following chart of accounts. Cash Accounts Receivable Office Supplies office Furnishings Computer Systems Land office Building Notes Payable Accounts Payable Capital Stock b. Indicate the effects of esch transaction on the company's assets, lisbilities, and owners' equity for the month of February. The Feb. 1 trenssction is provided for you. Complete this question by entering your answers in the tabs below. Required A Required B Prepare journal entries to record the above transactions. (Ir no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest dollar amounts.) View transaction llet Journal entry worksheet 2 3 4 5 8 7 8 8 Record the entry for cash refunded by PCWorld. Note: Enter debits before credits General Journal Debit Credit Date Feb. 28 Record entry Clear entry View general Journal