a. Issued 2,100 shares of common stock for $210,000 cash. b. Borrowed $53,000 cash from a local bank, payable in two years. c. Bought a building for $210,000; paid $59,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $174,000. e. Purchased supplies for $16,000 on account. 2. Record the transaction effects determined in part 1 using journal entries. (If no entry is required for a transaction/event Journal Entry Required" in the first account field.)

a. Issued 2,100 shares of common stock for $210,000 cash. b. Borrowed $53,000 cash from a local bank, payable in two years. c. Bought a building for $210,000; paid $59,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $174,000. e. Purchased supplies for $16,000 on account. Record the transaction effects determined in part 1 using journal entries. (If no entry is required for a transaction/eve Journal Entry Required" in the first account field.)