Cash Accounts Receivable Inventory Supplies Notes Receivable (duae in three years) Equipment Buildings Land recounts Payable Notes Payable (due in three years) Common Stock Retained Earnings $ 51,000 8,750 62,000 6,650 4,100 115,000 131,000 30,750 41,000 97,000 150,000 121,250 During the year, the company had the following summarized activities: a. Purchased equipment that cost $30,900, paid $5,900 cash and signed a two-year note for the balance. b. Issued an additional 4,400 shares of common stock for $44,000 cash. c Borrowed $59,500 cash from a local bank, payable June 30, in two years. d. Purchased supplies for $9.500 cash. e. Built an addition to the factory buildings for $74,750; paid $34,500 in cash and signed a three-year note for the balance. Hired a new president to start January 1 of next year. The contract was for $95,000 for each full year worked. ncer 2. Record the transaction effects determined in part 1 using journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field). View transaction list Journal entry worksheet 1 2 3 5 6 Purchased equipment that cost $30,900, paid $5,000 cash and signed a two- Year note for the balance. Record the transaction General Journal Debit Crest Purchased equipment that cost $30,900; paid $5,900 cash and signed a two- Year note for the balance. Record the transaction. tenter debts before credits Transaction General Journal Dobit Credit Becorder Clear entry View general Journal Required information Beg. Bal. Beg. Bal End. Bal End Bal Inventory Beg. Bal. Supplies Beg Bal End. Bal End bal. Equipment Beg Bal Bulldings Bog Bal End. Bal End. Bal Notes Receivable Beg. Bal. Land Beg Bal Endal End. Bal Accounts Payable Beg B Notes Payable Beg B. End. Bal End Ball Common Stock Retained Earning Beg