earings \& Brakes Corporation (B\&B) was incorporated as a private company. The company's accounts included the ollowing at June 30 : During the month of July, the company had the following activities: a. Issued 3,900 shares of common stock for $390,000 cash. b. Borrowed $110,000 cash from a local bank, payable in four years. c. Bought a building for $186,000; paid $76,000 in cash and signed a three year note for the balance. a. Paid cash for equipment that cost $100,000. e. Purchased supplies for $100,000 on account. 3. Summarize the journal entry effects from part 2 using T-accounts