On August 1, 20y7, Rafael Masey established Planet Realty, which completed the following transactions during the month: a. Rafael Masey transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, 532,000 . b. Purchased supplies on account, $1,710. c. Earned sales commissions, receiving cash, $26,240. d. Paid rent on office and equipment for the month, $5,770. e. Paid creditor on account, $630. f. Paid dividends, $1,550. 9. Paid automobile expenses (including rental charge) for month, $1,600, and misceilaneous expenses, $1080. h. Paid office salaries, 53,360 . 1. Determined that the cost of supplies used was $940. Required: 1. Journalize entries for transactions (a) through (1), using the following account tities: Cash, Supplies, Accounts Payable, Common Stock, Dividends, Sales Commissions, Rent Expense, Office Salaries Expense, Automobile Expense, Supplies Expense, Miscellaneous Expense, If an amount bax does not require an entry, Ieave it blank. 2. Prepare T bccounts, using the account tudes in (1). Pott (in chronological order) the journal entries to these accounts, selecting the appropriate letter to the left of each amount to identify the transactions, Determine the account balances, after all posting is complete. Accounts containing only a single entry do not need a balance. Supplies Accounts Payable Common Stock \begin{tabular}{c} \multicolumn{2}{c}{ Dividends } \\ \hline \end{tabular} 5ales Commissions 3. Prepare an unadjusted trial balance as of August 31, 20Y7. List all accounts in the order of Assets, Liabilities, Stockholders' equity, Revenues, and Expenses. If an amounk bax does not require an entry, leave it blank. 4. Determine the following: a. Amount of total covenue recorded in the ledger. 1 b. Amount of total expentes tecorded in the ledget. c. Amount of net income for Nugust. 5. Determine the increase of decrease in retained earnings for August