Bearings & Brakes Corporation (B&B) was incorporated as a private company. The companys accounts included the following at June 30:

1. Analyze transactions (a)(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign.)

2. Record the transaction effects determined in part 1 using a journal entry format. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 3. Summarize the journal entry effects from part 2 using T-accounts. 4. Prepare a trial balance at July 31. 5. Prepare a classified balance sheet at July 31. Thank you very much

[The following information applies to the questions displayed below/ Bearings & Brakes Corporation (B&B) was incorporated as a private company. The company's account included the following at June 30 Accounts Payable 61,000 Buildings 580,000 Cash 98.000 Common Stock 250,000 Equipment 164,000 Land 484,000 Notes Payable (long-term) 13.000 Retained Earnings 1.006.000 Supplies 4,000 During the month of July, the company had the following activities: a. Issued 3.700 shares of common stock for $370,000 cash. b. Borrowed $100,000 cash from a local bank, payable in four years. c. Bought a building for $182,000 paid $74,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $98.000. e. Purchased supplies for $98,000 on account