J. Kamas and G. Charrier have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Incorporated. The following transactions occurred in March: a. Received $102,000 cash from each of the two shareholders to form the corporation, in addition to $4,200 in accounts receivable, $9,700 in equipment, a van (equipment) appraised at a fair value of $17,400, and $2,300 in supplies. Gave the two owners each 940 shares of common stock with a par value of $1 per share. b. Purchased a vacant store for sale in a good location for $580,000, making a $116,000 cash down payment and signing a 10 -year mortgage note from a local bank for the rest. c. Borrowed $72,000 from the local bank on a 10 percent, one-year note. d. Purchased food and paper supplies costing $14,600 in March; paid cash. e. Catered four parties in March for $6,400;$2,040 was billed and the rest was received in cash. f. Sold food at the retail store for $18,000 cash. g. Used food and paper supplies costing $11,270. h. Received a $640 telephone bill for March to be paid in April. i. Paid $583 in gas for the van in March. j. Paid $10,680 in wages to employees who worked in March. k. Paid a $520 dividend from the corporation to each owner. I. Purchased $72,000 of equipment (refrigerated display cases, cabinets, tables, and chairs) and renovated and decorated the new store for $31,000 (added to the cost of the building); paid cash. Required: 2. Record in the T-accounts the effects of each transaction for Traveling Gourmet, Incorporated, in March