CBUS 207-March 9th 2017 Professor: Dr. Siriyama K. Herath Student Name Your Grade: Problem #1 (20 points). May bleton, Inc. had the following transactions during a recent month a. Purchased $80,000 of inventory, paying 40% in cash and the balance on account. b. Purchased land and a building for $50,000 and S175,000, respectively. for S65,000 cash and signed a note for the balance. c. Paid monthly rent of $2,000. d. Issued stock for $90,000 sold was s35,000. e. Sold merchandise on account for s56,00o: cost of goods Purchased S15,000 of equipment on account. account. g. Collected from customers who had previously purchased inventory on h. payment of $2.000 S300 interest on the notes payable. i. Paid $6.500 on accounts payable j. Purchased supplies of $2.200 Prepare the appropriate al entries to record these transactions (omit explanations)