Obama Airlines completed the following transactions during June. a. b. C. d. Barack Obama, the owner, invested $80,000 cash along with office equipment valued at $30,000 in a new startup The company purchased land valued at $30,000 and a building valued at $170,000. The purchase is paid with $40,000 cash and a long term note payable for $160,000 The company purchased $2,400 of office supplies on credit B. Obama invested his personal automobile in the company. The automobile has a value of $18,000 and is to be used exclusively in the business e. The company purchased $6,000 of additonal office equipment on credit f. The company paid $1,500 cash salary to an assistant g. The company provided services to a client and collected $6,000 cash h. The company paid $800 cash for this month's utilities i. The company paid $2,400 cash to settle the payable created in transaction c j. The company purchased $20,000 of new office equipment by paying $20,000 cash k. The completed $5,200 of services for a client, who must pay within 30 days 1. The company paid $1,500 cash salary to an assistant m. n. The company received $3,800 cash in partial payment on the receiveable created in transaction k B. Obama withdrew, $6,400 cash from the company for personal use TASK 1. Identify the accounts the accounts involved in each transaction 2. Determine if the accounts used are assets, liabilities, or equity accounts 3. Prepare General Journal entries for each transaction 4. Post the transactions to the General Ledger, and record the account balances