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bearings and brakes corporation was incorporated as a private company. the companys accounts included the following accounts payable $91,000 buildings 640,000 cash 104,000 common stock
bearings and brakes corporation was incorporated as a private company. the companys accounts included the following accounts payable $91,000 buildings 640,000 cash 104,000 common stock 310,000 equipment 176,000 land 514,000 notes payable (long-term) 7,000 retained earnings 1,036,000 supplies 10,000 during the month of July, the company had the following activities a. issued 4,300 shares of common stock for 430,000 cash. b. borrowed 130,000 cash from a local bank, payable in four years c. bought a building for $194,000; paid $80,000 in cash and signed a three- year note for the balance. d. paid cash for equipment that cost $104,000. e. purchased supplies for $104,000 on account. prepare a trail balance at July 31.
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