Bearings & Brakes Corporation (B&B) was incorporated as a private company. The companys accounts included the following at June 30: Accounts Payable $ 88,000 Buildings 650,000 Cash 105,000 Common Stock 320,000 Equipment 178,000 Land 519,000 Notes Payable (long-term) 8,000 Retained Earnings 1,041,000 Supplies 5,000 During the month of July, the company had the following activities: Issued 4,400 shares of common stock for $440,000 cash. Borrowed $135,000 cash from a local bank, payable in four years. Bought a building for $196,000; paid $81,000 in cash and signed a three-year note for the balance. Paid cash for equipment that cost $105,000. Purchased supplies for $105,000 on account.

e Purchased supplies Tor $105,000 on account. 4. Prepare a trial balance at July 31. Credit BEARINGS & BRAKES CORPORATION Trial Balance For the Month Ended July 31 Debit Cash Common Stock Cash Notes Payable (short-term) Buildings Cash Notes Receivable (long-term) Equipment Cash . Totals $ 0 $ 0 cm