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enter any decrease to account balances with a minus sign Required information [The following information applies to the questions displayed below] Bearings & Brakes Corporation
enter any decrease to account balances with a minus sign
Required information [The following information applies to the questions displayed below] Bearings \& Brakes Corporation (B\&B) was incorporated as a private company. The company's accounts included the following at June 30 : During the month of July, the company had the following activities: a. Issued 3,800 shares of common stock for $380,000 cash. b. Borrowed $105,000 cash from a local bank, payable in four years, c. Bought a building for $184,000; paid $75,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $99,000. e. Purchased supplies for $99,000 on account. Required information [The following information applies to the questions displayed below] Bearings \& Brakes Corporation (B\&B) was incorporated as a private company. The company's accounts included the following at June 30 : During the month of July, the company had the following activities: a. Issued 3,800 shares of common stock for $380,000 cash. b. Borrowed $105,000 cash from a local bank, payable in four years, c. Bought a building for $184,000; paid $75,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $99,000. e. Purchased supplies for $99,000 on account Step by Step Solution
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