Sanya Case+ The Sanya Company incorporated on January 1, 2016 as a wholesaler. It purchases products from suppliers and resells the inventory to commercial customers. During 2016, Sanya engaged in various transactions. A subset of these transactions is listed below.^ Date Transaction 1/1+Various shareholders invest in Sanya by purchasing 2,000 shares of no-par stock at $10 per share. ' 1/16Sanya purchases 2 acres of land as a building site, paying $1,500 per acre.-+^ 3/30-1 Sanya purchases a building and equipment for $ 15,320 and $2,120, respectively. The purchases are paid for with both cash (60% of the total cost) and a note payable (40% of the total cost). 3/31+' | Sanya purchases $7,300 of inventory on credit from the Bark Company. 4/8Sanya pays $7,300 cash for inventory purchased from Bark on 3/31. 6/1Sanya sells one its acres of land for $1,500 cash after reconsidering its building lans.^ 9/23Sanya makes sales on credit to Frank Company for S5,000 and $4,000 to Knox. company. The original cost of the inventory was $5,400. ^ 11/2Sanya collects $2,000 of accounts receivable from Frank Company.^ 12/29Sanya distributes dividends of S500 ($0.25 per share for 2,000 shares) to shareholders. Required:- 1) For the transactions listed above, prepare the appropriate journal entries.+* 2) For the transactions listed above, post the entries to the T-Accounts. -' 3) Verify that the accounting equation remains in balance after considering all transactions.