You purchased a an apartment building and have your first renter. Your terms for the apartments are: Rent is $2,400 a month, Pay up front a $600 deposit, and 1st and last month's rent. So the renter has to pay up front, $7,800. Joe Smith comes in to rent an apartment, He agrees to the terms and pays his $7,800. He travels a lot and does not want to have to keep track of the rent, so he decides to pay 6 months of his rent in advance. Questions (15 points each; total 6 possible points). How would this transaction impact your business? Explain your response. How should you track of this transaction? Explain your response and demonstrate using the appropriate financial document(s). Demonstrate how you would track this transaction for a period of 6 months. How does this transaction impact your financial statements? Explain your response and provide an example. Balance Sheet (assets = liabilities equity) Income Statement (revenue - expenses = net income/loss)