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

1. Received $76,000 cash from the six investors; each investor was issued 9,000 shares of common stock with a par value of $0.20 per share.
2. Purchased equipment for use in the business at a cost of $24,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months).
3. Signed an agreement with a cleaning service to pay $180 per week for cleaning the corporate offices next year.
4. Received an additional contribution from investors who provided $3,600 in cash and land valued at $21,000 in exchange for 1,600 shares of stock in the company.
5. Lent $3,100 to one of the investors, who signed a note due in six months.
6. Bennett Griffin borrowed $7,600 for personal use from a local bank, signing a one-year note.

E2-9 Part 1

Required:

1. For each of the preceding transactions, record the effects of the transaction in the appropriate T-accounts

Cash, notes receivable, equipment, land, notes payable, common stock, additional paid-in capital?