Glenn Grimes is the founder and president of Heartland Construction, a real estate development venture. The business transactions during February whlle the company was being organized are listed as follows. Feb. 1 Grimes and several others invested $600,000 cash in the business in exchange for 30,000 shares of capital 5 tock Feb. 10 The company purchased ofice facities for $277,500, of which $92,500 was applicable to the land and $185,000 to the building A cash payment of $55,500 was made and a note payable was issued for the balance of the purchase price. Feb. 16 Computer equipment was purchased from PCWorid for $15,300 cash Feb. 18 Ofice fumshings were purchased from H. Way Furnishings at a cost of $9.450. A s945 cash payment was made at the time of purchose, and an agreoment was made to pay the remaining balance in two equal installmonts due March 1 and April 1 . Hi-Way Furnishings did not require that Heatiand sign a promissory note Feb. 22 Office supples wore purchased from Ofice World for $445 cash Feb. 23 Heartiand discovered that it paid too much for a computer printer purchased on February 16. The unit should have cost only $340, but Heartiand was charged $385 PCWorld promised to refund the difference within seven doys. Feb. 27 Maled Hi. Way Fumishings the first instaliment duo on the account payable for office furnishings purchased on February 18 Feb. 28 Received $45 trom PCWontd in full setilement of the account receivable created on February 23 Required: a. Prepare joumal entries to record the above transactions. Select the approprlate account tities from the following chart of accounts. b. Indicate the effects of each transaction on the compary's assets, liabilities, and owners' equity for the month of February. The Feb. 1 transaction is provided for you