The following is a list of account balances for Pick-A-Pet, Inc., as of June 30, Year 3: Accounts Payable $368,400 83,000 Accounts Receivable Cash 740,600 Common Stock 686,100 Equipment 61,600 Logo and Trademarks 424,800 Long-term Notes Payable 270,500 Retained Earnings Software 119,500 134,500 The company entered into the following transactions during July, Year 3. Stockholders contribute $460,000 cash for additional ownership shares and the company borrows $230,000 in cash from a bank to buy new equipment by signing a formal agreement to repay the loan in 2 years. No other transactions took place during July, Year 3. Required: a. Prepare a classified balance sheet for the company at June 30, Year 3. b. Show the effects of the July transactions on the basic accounting equation. c. Prepare the journal entries that would be used to record the transactions.