Account Debit Credit Total a. The business received cash of $63,000 and a building with a fair value of $95,000. The corporation issued common stock to the stockholders. b. Borrowed $65,000 from the bank; signed a note payable. c. Paid $38,000 for music equipment. Purchased supplies on account, $300. e. Paid employees' salaries, $6,600. f. Received $3,500 for music services performed for customers. g. Performed services for customers on account, $13,000. h. Paid $140 of the account payable created in transaction d. i. Received a(n) $600 bill for utilities expense that will be paid in the near future. j. Received cash on account, $1,000. k. Paid the following cash expenses: (1) rent, $1,400; (2) advertising, $500