Athletic Performance Company (APC) was incorporated as a private company. The company's accounts included the following at July 1 : During the month of July, the company had the following activities: a. Issued 4,800 shares of common stock for $480,000 cash. b. Borrowed $50,000 cash from a local bank, payable in two years. c. Bought a building for $205,250; paid $53,250 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $256,000. e. Purchased supplies for $16,300 on account. Summarize the journal entry effects from part 2 using T-accounts. (TIP: Enter the July 1 balances as the month's beginning balances.) \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Retained Earnings } \\ \hline \end{tabular}