Les Stanley established an insurance agency on July 1, 20Y5, and completed the following transactions during July:

1. Opened a business bank account in the name of Stanley Insurance Inc., with a deposit of $50,500 in exchange for common stock.
2. Borrowed $23,000 by issuing a note payable.
3. Received cash from fees earned, $28,500.
4. Paid rent on office and equipment for the month, $2,600.
5. Paid automobile expense for the month, $2,000, and miscellaneous expense, $800.
6. Paid office salaries, $4,200.
7. Paid interest on the note payable, $110.
8. Purchased land as a future building site, $59,000.
9. Paid dividends, $3,800.

Required:

a. Indicate the effect of each transaction and the balances after each transaction, using the integrated financial statement framework.
b. Briefly explain why the stockholders' investments and revenues increased stockholders' equity, while dividends and expenses decreased stockholders' equality.
c. Prepare an income statement and statement of stockholders' equity for July 31.
d. Prepare a balance sheet as of July 31, 20Y5.
e. Prepare a statement of cash flows for July.

answer(eu) is the correct answer;

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of the three mortgage options that demarco and tanya have to choose from, the balloon payment mortgage would be their best option, over adjustable payment and fixed payment plans.ultimately, the balloon payment plan would save demarco and tanya overall, in interest, would cost less monthly, and they would only have to make these payments for 8 years, opposing to 30 years for adjustable or fixed payment plans. 

overall, demarco and tanya would save $80,811 if they chose balloon payments over fixed payments, and would save $116,711 if they choose balloon payments over adjustable payments. benefits with choosing fixed payments over adjustable payments is that, in the end, the payments will still be $836.30 a month, while with adjustable payments, the initial monthly payments will be $763.38 to $1082.70 a month, ultimately leading to a more costly purchase. benefits with choosing fixed payments over balloon payments are not present. benefits in choosing adjustable payments over is that it has a lower interest rate, and starts with lower monthly payments initially. benefits in choosing adjustable payments over balloon payments include a lower interest rate, and lower initial monthly payments. benefits in choosing balloon payments over fixed payments include lower interest rates, lower overall price, lower monthly payments, takes less time to pay off, and does not require a downpayment. benefits in choosing balloon payments over adjustable payments include, lower monthly payments (when averaged), takes less time to pay off, and lower overall price.

hence, option c, balloon payments, is the best option for demarco and tanya to make this purchase, for it will save them a minimum of $80811, and a maximum of $116,711.