Glenn Grimes is the founder and president of Heartland Construction, a real estate development startup. The commercial transactions that took place in February when the company was organized are as follows.

February.	1		Grimes and others invested $700,000 in cash in the business in exchange for 30,000 equity shares.
February.	10		The company purchased office facilities for $285,000, of which $95,000 was on land and $190,000 on buildings. $57,000 cash was paid and a promissory note was issued for the balance of the purchase price.
February.	16		Computer equipment was purchased from PCWorld for $14,400 in cash.
February.	18		Office furniture purchased from Hi-Way Furnishings for $9,950. $995 cash was paid at the time of purchase and an agreement was made to pay the remaining balance in two equal installments, March 1 and April 1. Hi-Way Furnishings did not require Heartland to sign deed.
February.	22		Office supplies were purchased from Office World for $315 cash.
February.	23		Heartland realized that he had paid too much for a computer printer purchased on February 16. Heartland was charged $395 when the unit was only supposed to cost $350. PCWorld promised to refund the difference within seven days.
February.	27		Hi-Way Furnishings by mail, the first installment will be paid to the account payable for office furniture purchased on February 18.
February.	28		He received $45 from PCWorld to fully settle the account receivable created on February 23.

Necessary:

A. Prepare journal entries to record the above transactions. Select the appropriate account titles from the chart of accounts below.

B. Indicate the impact of each transaction on the company's assets, liabilities and equity for the month of February. The February 1 transaction is provided for you.