The following information is provided for Cozad Land Developers, Inc. at August 31, 2019: Account Balances Accounts payable Accounts receivable Additional paid-in capital Cash Common stock --$.01 par value Customer refundable deposits Deferred revenue Interest payable Investments Land inventory Debt Prepaid expenses Notes receivable Property and equipment Retained earnings Taxes payable Wages and benefits payable Balance $ 313,996 154,174 511,050 490,612 369 63,062 98,286 13,155 12,660 716,553 1,095,213 159,856 1,119,631 252,707 533,601 90,725 186,736 Cozad purchases undeveloped parcels of land, converts them into construction ready housing sites, and often finances the purchase of the lots. The time lag from land purchase to final payment is typically five years. Pioneer entered into the following transactions during September 2019: 1. Purchased 10 acres of undeveloped land in exchange a $75,000 loan due in 2024. 2. Purchased a front end loader for $85,000. 3. Sold 10,000 shares of common stock for $15 a share. 4. Repaid $100,000 of debt plus $2,000 of accrued interest. 5. Received a $3,000 deposit on a lot in development. 6. Company president, Robert Henri settled a defamation lawsuit with Pacific Railroad by paying $135,000 7. Used excess cash to purchase a $150,000, six-month. 4% certificate of deposit. The CD is classified as an investment. 8. Received $50,000 for a lot that will be ready for construction in October 9. Paid wages and benefits owed from August. 10. Purchased October television advertising spots for $17.500. 11. Declared and paid dividends of $1.50 per common share, 8. Received $50,000 for a lot that will be ready for construction in October 9. Paid wages and benefits owed from August. 10. Purchased October television advertising spots for $17,500. 11. Declared and paid dividends of $1.50 per common share. Required: a. Prepare the journal entry for each August transaction. b. Create T-accounts with beginning balances. Post each journal entry to the appropriate T- account and determine the ending balances. Create new accounts as necessary. Organize your T-accounts as they would appear on the balance sheet. C Discuss how the five year operating cycle would affect Cozad's choice of a balance sheet format d. Prepare an unclassified balance sheet at September 30, 2019