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Problem 3.1A (Algo) Journalizing Transactions (LO3-3, LO3-4, LO3-5) Glenn Grimes is the founder and president of Heartiand Construction, o real estate development venture. Tho business ransactions during Februacy while the company was being orgarized arelisted as follows: Teb, 1 erimes and neveral others invested 5400,500 cash in the businesa in exchangs for 39,000 aharas of capttal mtock. reb. 10 The coepany purehased office faclifeles for 1292,500, of whieh 197,500 wan apolicasie to the land and 1135 , 490 to the buliding. A cash payment of \$58,500 vas made and n rote payable val issued for the balance of tho purebise price. Fob. 16 conputer equiphent was perchased fron pcuarla for 112,500 eash. 1 and Npri1 7. Hi-vay Furniabisge did nat reckire that neartland aign a proaisiory note. reb. 22 oftice supplies vere puresased fron offiee Warld for 9375 eash. Tekruary 16, Fob. 2s keceived \$35 fron scworld in foll eettlenent of the account recelyable ereated an Fabraary 23. Required: a. Prepare journal entries to record the above transoctions. Select the appropriate accoint tites from the following chart of accounts. b. Indicate the effects of each tansaction on the company's assets, liabilites, and owners' equity for the month of February. The Feb. 1 transaction is provided for you. Complete this question by entering your answers in the tabs below. b. Indicate the effects of each transaction on the company's assets. liabsities, and onners equity for the month of Februsry, The ficb. 1 . trartsedion is provided for you. Complete this question by entering your answers in the tabs below. Indicate the elfects of each transaction on the company's assets, Hablities, and owners' equify for the moeth of February. The Feb. 1 tratsoctiso Hir prided ise ycu deducted should be indicated with minus sign.)