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Required: 1. Prepare journal entries in good form for the transactions above. 2. Post the journal entries into T-accounts (make sure you have a total amount for each account).

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The following is a list of transactions that have occurred during the month of August. Date- August 12 August 14 August 2- August 2- August 3- August 4- August 52 August 10- August 15+ August 18+ August 22 August 28- August 312 August 312 August 312 Transaction Started the business with $606,840 in cash. Borrowed ($2,275,650) + $150,000 in the form of a note payable. Purchased land with cash for ($1,517,100).- Purchased building with cash for ($758,550). Purchased equipment on account for (S1,011,400). Purchased a 12-month insurance policy for $12,000.- Purchased $150,000 of Food and Beverage Inventory on account. Paid $2.800 in cash for advertisinge Paid a utility bill of $1,500 in cash Received a $1,250 cash deposit for a future banquet Paid $3,500 in cash for china that is expensed immediately Paid $90,000 in wages in cash for August 1-28 work Generated $150,000 in food revenue for the entire month. The guests paid cash. Generated $30,000 in beverage revenue for the entire month. The guests paid cash.- You withdraw $1,200 from the business for personal use