Biando Corporation began operations on May 1, 2010 and completed the following transactions during its first month of operations.

A. Sold capital stock for $30,000.

B. Purchased land and building valued at $35,000 and $165,000, respectively, by paying $10,000 cash and signing a 20-year mortgage for the balance.

C. Purchased office equipment on account, $7,500.

D. Billed a customer for services performed, $5,000.

E. Received an $800 deposit from a customer for services to be performed next month.

F. Made a partial payment on account for the office equipment purchased in transaction (C), $1,500.

G. Performed a service and immediately collected $2,000.

H. Received and immediately paid the telephone bill for the month, $380.

I. Paid a dividend to owners, $3,000.

J. Received, but did not pay, the monthly utility bill, $450.

PART A) Prepare the general journal entries to record each of these events.

PART B) Prepare the closing entries.