Higgins Company began operations last year. You are a member of the management team investigating expansion ideas that will require borrowing funds from banks. At the start of the current year, Higgins's T-account balances were as follows:

Assets:
Cash
4,800

Short-Term Investments
2,600

Property and Equipment
3,100

Liabilities:
Short-Term Notes Payable
	2,100

Long-Term Notes Payable
	360

Common Stock
	640

Additional Paid-in Capital
	2,560

Retained Earnings
	4,840

The following transactions occurred in current year:

1. Borrowed $3,900 from a local bank, signing a note due in three years.
2. Sold $800 of the investments for $800 cash.
3. Sold one-half of the property and equipment for $1,550 in cash.
4. Declared and paid $400 in cash dividends to stockholders.

2. Enter the above current year transactions in the T-accounts: Cash Short-term Investments Beg. Bal. Beg. Bal. End. Bal. End. Bal. Property & Equipment Short-term Notes Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Long-term Notes Payable Common Stock Beg. Bal. Beg. Bal. End. Bal. End. Bal. L Additional Paid-in Capital Retained Earnings Beg. Bal. Beg. Bal. End. Bal. End. Bal