Granger Service Company, Inc., was organized by Ted Granger and five other investors. The following activities occurred during the year:

Required: 1. Create T-accounts for the following accounts: Cash, Notes Receivable, Equipment, Land, Notes Payable, Common Stock, and Additional Paid-in Capital. Beginning balances are S0. For each of the preceding transactions, record the effects of the transaction in the appropriate T-accounts. Include good referencing and totals for each T-account. Required Information The following Information appies to the questions displayed below Cash Notes Receivable Beg. Bal Beg. Bal Granger Service Company, Inc., was organized by Ted Granger and five other investors. The following activities occurred during the ycar End. Bal. End. Bal a. Received $90,000 cash from the investors; each was issued 10,400 shares of capital stock with a par value of S.20 per share. b. Purchased equipment for use in the business at a cost of $38,000; one fourth was paid in Equipment Land Beg. Bal Beg. Bal cash and the company signed a note for the balance (due in six months). c. Signed an agreement with a cleaning service to pay $320 per week for cleaning the corporate offices next year d. Recelved an additional contribution from investors who provided $5,000 in cash and land End. Bal End. Bal valued at S35,000 in exchange for 3,000 shares of stock in the company. e. Lent $4,500 to one of the investors who signed a note due in sibx months. f. Ted Granger borrowed $9,000 for personal use from a local bank, signing a one-year note. Notes Payable Common Stock Beg. Bal. Beg. Bal End. Bal End. Bal Additional Paid-in Capital Beg. Bal. End. Bal