2. (16 pts) Pam, Pat and Pen organized the Ppp Corporation on January 1, 20A. Fach of these owners invested $30,000 cash and received shares of stock. Below are selected transactions that were completed during lanuary. (A) Give the entry on Ppp's books for each transaction: (1) Sold stock to the owners. CC. Stock 90,000 (2) Borrowed $65,000 on one-year note payable. (3) Purchased land for $35,000 cash. land 35,000 cash 35,000 (4) Purchased $4,000 of supplies on account. Recorded to a permanent account. (5) Purchased three machines, $10,000 each; paid 40% down and signed a note for the remainder. (6) Used $3,000 of the supplies. Complete the following based only on the 6 transactions above: Assets S Liabilities $ Stockholders' Equity $