Exercise $1-9$A $($Algo$)$ Interpreting the accounting equation LO $1-5$

Jones Enterprises was started when it acquired $$4,800$ cash from creditors and $$7,200$ from owners. The company immediatel purchased land that cost $$10,000.$

Required

a$.$ Record the events under an accounting equation.

b$.$ After all events have been recorded, Jones's obligations to creditors represent what percentage of total assets?

c$.$ After all events have been recorded, Jones's stockholders' equity represents what percentage of total assets?

d$.$ Assume the debt is due. Given that Jones has $$7,200$ in stockholders' equity, can the company repay the creditors at this point?