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The following is a list of account balances for Pick-A-Pet, Incorporated, as of June 30, Year 3: Accounts Payable $349,200 Accounts Receivable 419,200 Cash 732,600

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The following is a list of account balances for Pick-A-Pet, Incorporated, as of June 30, Year 3: Accounts Payable $349,200 Accounts Receivable 419,200 Cash 732,600 Common Stock 662,100 Equipment 58.400 Logo and Trademarks 421,600 Notes Payable 268,900 Retained Earnings 470,100 Software 118,500 The company entered into the following transactions during July, Year 3. Stockholders contribute $300,000 cash for additional ownership shares and the company borrows $150,000 in cash from a bank to buy new equipment at a later date. 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. Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare a classified balance sheet for the company at June 30, Year 3. PICK-A-PET, INCORPORATED Balance Sheet At June 30, Year 3 Required A Required Required Show the effects of the July transactions on the basic accounting equation (Enter any decreases to account balances with a minus sign.) Transaction Analysis Assets Liabilities Stockholders' Equity Stockholders contribute $300,000 cash for additional ownership shares Record the entry. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal Required A Required B Required Prepare the journal entries that would be used to record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet B The company borrows $150,000 in cash from a bank by signing a note payable to buy new equipment at a later date. Record the entry Note: Enter debits before credits Transaction 2 General Journal Debit Credit Record entry Clear entry View general Journal

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