a. Received $70,000 cash from the six investors; each investor was issued 8,400 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $18,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). c. Signed an agreement with a cleaning service to pay $120 per week for cleaning the corporate offices next year. d. Received an additional contribution from investors who provided $3,000 in cash and land valued at $15,000 in exchange for 1,000 shares of stock in the company. e. Lent $2,500 to one of the investors, who signed a note due in six months. f. Bennett Griffin borrowed $7,000 for personal use from a local bank, signing a one-year note. Cash Notes Receivable Beg. Bal. 0 Beg. Bal. 0 (a) 70,000 4,500 2,500 (b) (e) (d) 3,000 2,500 (f) 7,000 73,000 End. Bal. End. Bal. 2,500 Equipment Land 0 Beg. Bal. 0 Beg. Bal. b ( b) 18,000 (d) 15,000 End. Bal. 18,000 End. Bal. 15,000 Notes Payable Common Stock Beg. Bal. 0 Beg. Bal. 0 13,500 (b) > 840 X (a) 100 (d) 7,000 (f) End. Bal. 20,500 End. Bal. 940 Additional Paid-in Capital Beg. Bal. 0 69,160 X (a) 179,000 X (d)