a. Issued 200,000 shares of $5-par-value common stock for $1,000,000 in cash. b. Borrowed $530,000 from Oglesby National Bank and signed a 12% note due in two years. c. Incurred and paid $400,000 in salaries for the year d. Purchased $720,000 of merchandise inventory on account during the year. e. Sold inventory costing $580,000 for a total of $920,000, all on credit f. Paid rent of $220,000 on the sales facilities during the first 11 months of the year. g $170,000 of store equipment, paying $51,000 in cash and agreeing to pay the difference within 90 days h. Paid the entire $119,000 owed for store equipment, and $610,000 of the amount due to suppliers for credit purchases previously recorded i. and paid utilities expense of $36,000 during the year. recorded Collected in cash from during the year for credit sales previously k At year-end, accrued $63,600 of interest on the note due to Oglesby National Bank At year-end, accrued $20,000 of past-due December rent on the sales facilities