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a. Issued 6,600 shares of common stock for $660,000 cash. b. Borrowed $178,000 cash from a local bank, payable in two years. c. Bought a

a. Issued 6,600 shares of common stock for

$660,000

cash.\ b. Borrowed

$178,000

cash from a local bank, payable in two years.\ c. Bought a building for

$235,000

; paid

$84,000

in cash and signed a three-year note for the\ balance.\ d. Paid cash for equipment that cost

$245,000

.\ e. Purchased supplies for

$51,250

on account. prepare a trial balance at july 31

image text in transcribed
a. Issued 6,600 shares of common stock for $660,000 cash. b. Borrowed $178,000 cash from a local bank, payable in two years. c. Bought a building for $235,000; paid $84,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $245,000. e. Purchased supplies for $51,250 on account. a. Issued 6,600 shares of common stock for $660,000 cash. b. Borrowed $178,000 cash from a local bank, payable in two years. c. Bought a building for $235,000; paid $84,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $245,000. e. Purchased supplies for $51,250 on account

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