The required transactions and blank forms needed are provided YOU NEED TO COMPLETE THE FORMS IN THE ORDER THAT THEY ARE GIVEN An answer is provided here or there to help you check whether you are proceeding correctly Each correct answer is worth point. CHECK YOUWORKALONG THE WAY. MISTAKES COST TIME. On August 1, 2016, Rafael Masey established Planet Realty, which completed the following transactions during the month of August. It's first month of operations: a) August 1, 2016, Rafael Masey transferred cash from a personal bank account to an account to be used for the business, $77,500. b) August 1 purchased land for 20,000 c) August 1, 2016, purchased three months of Liability Insurance for $1,200 d) August 2, 2016, purchased truck for $32,500, paying 15,000 in cash and the rest as a loan. e) August 3, 2016, purchased supplies on account, $2,300 ) August 7 rented out land for three months to Acme Company, who will use it for temporary parking for their staff. Received 475 for the three-month rental. g) August 10, 2016, earned Sales Commissions, receiving cash, $13,300 h) August 15, paid creditor on account, $1,150