Bearings & Brakes Corporation $($B&B$)$ was incorporated as a private company. The company's accounts included the

following at June $30$:

During the month of July, the company had the following activities:

a$.$ Issued $4,500$ shares of common stock for $$450,000$ cash.

b$.$ Borrowed $$140,000$ cash from a local bank, payable in four years.

c$.$ Bought a building for $$198,000$; paid $$82,000$ in cash and signed a three$-$year note for the balance.

d$.$ Paid cash for equipment that cost $$106,000.$

e$.$ Purchased supplies for $$106,000$ on account.

PB$2-2($Algo$)$ Part $5$

Required:

Prepare a classified balance sheet at July $31.$Bearings & Brakes Corporation $($B&B$)$ was incorporated as a private company. The company's accounts included the

following at June $30$:

During the month of July, the company had the following activities:

a$.$ Issued $4,500$ shares of common stock for $$450,000$ cash.

b$.$ Borrowed $$140,000$ cash from a local bank, payable in four years.

c$.$ Bought a building for $$198,000$; paid $$82,000$ in cash and signed a three$-$year note for the balance.

d$.$ Paid cash for equipment that cost $$106,000.$

e$.$ Purchased supplies for $$106,000$ on account.

PB$2-2($Algo$)$ Part $5$

Required:

Prepare a classified balance sheet at July $31.$