a. Issued 240.000 shares of $7-par-value common stock for $1,680,000 in cash b. Borrowed $540,000 from Oglesby National Bank and signed a 11% note due in two years c Incurred and paid $380,000 in salaries for the year d. Purchased $650,000 of merchandise inventory on account during the year e. Sold inventory costing $650.000 for a total of $950,000, all on credit t Paid rent of $330,000 on the sales facilities during the first 11 months of the year. g. Purchased $130,000 of store equipment, paying $50,000 in cash and agreeing to pay the difference within 90 days h. Paid the entire $80,000 owed for store equipment and $610,000 of the amount due to suppliers for credit purcheses previously recorded L Incured and paid utilities expense of $41,000 during the year J Collected $845,000 in cash from customers during the year for credit sales previously recorded. k. At year-end, accrued $59,400 of interest on the note due to Oglesby National Bank I. At year-end, accrued $30,000 of past-due December rent on the sales facilities 2.50 points Required: Record each transaction in the appropriate columns. (If an transaction/Adjustment are not affecting the balance sheet category or income statment, leave the cells decreases to account balances as as negative.) STOCKHOLDERS Net income Revenue Expense ASSETS LIABILITIES EQUITY Accounts Common Transaction Accounts Merchandise Notes Equipment Stock Cash Receivable+Inventory Payable Payable a. di h + - o ol + o 0+