please answer a,b as shown on the answer sheet

Problem 2 (20 points) The Firm was organized by five investons at the beginning of the year. The following activities occurred during the year. 1) Received 545,000cash from the investors, investots were isued 1,000 shares of common stock with a par value of 50.2 per thare 2) Purchased equipment for ase in the business at a coit of 512,000;55,000 was paid in caih and the cocmpany signed a note for the balance. 3) Lent 51,500 to ooc of the investors who signed a note doe in six mooths: (a) Prepare the journal entries for each transaction. (b) Create tbe T-account for cash. Assume that the beginning balaece is zero. For rach of the three transactions, record the effects of the transction in the cakh T-aceownt. In addition, calculate the ending balance in the T-accown () (b) For each of the tansections (1) throegh (3), reoord the eflects of the tnantaction in the Cich en debilt and credit sides. Calculate the exding belnece of Cuh. Include bere if you wnt to firther exphin your work (optionen)