Nicole has decided that she is going to start her business, Nicoles Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30, 2017.

1. Received $79,500 cash when issuing 7,950 new shares.
2. Purchased some land by paying $1,900 cash and signing a note payable for $7,300 due in 2017.
3. Hired a new esthetician for a salary of $900 a month, starting next month.
4. Bought $1,020 in soaps and aromatherapy supplies for the spa on credit.
5. NGS purchased a company car for $18,100 cash (list price of $23,000) to assist in running errands for the business.
6. Nicole sold 100 of her own personal shares to Raea Gooding for $400.
7. Paid $310 of the amount owed in d.

Required: 1. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. Assuming that the beginning balances in each of the accounts are zero, complete T-accounts to summarize the transactions a-g. 3. Prepare a classified balance sheet at April 30, 2017, using the information given in the transactions.