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

Issued $3,500$ shares of common stock for $$350,000$ cash.

Borrowed $$52,500$ cash from a local bank, payable in two years.

Bought a building for $$233,750$; paid $$51,750$ in cash and signed a three$-$year note for the balance.

Paid cash for equipment that cost $$205,000.$

Purchased supplies for $$14,000$ on account.

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.$)$