mework Saved Help LULU ILMU Edward Allen Interiors Inc. is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Edward Allen's September 30, 2016, trial balance. (The amounts shown represent millions of dollars.) Accounts Payable Accounts Receivable Cash Common Stock Equipment Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Salaries and Wages Payable Software $ 116 15 110 25 300 146 160 3 27 329 25 Assume that the following events occurred in the following quarter. a. Pald $40 cash for additional inventory. b. Issued additional shares of common stock for $30 in cash c. Purchased equipment for $140: paid $65 in cash and signed a note to pay the remaining $75 in two years. d. Signed a short-term note to borrow $12 cash. e. Conducted negotiations to purchase a sawmill, which is expected to cost $32. 4. Summarize the journal entry effects from part 3 using T-accounts. Use the September 30, 2016, ending balances as the beginning a. Paid $40 cash for additional inventory. b. Issued additional shares of common stock for $30 in cash. c. Purchased equipment for $140; paid $65 in cash and signed a note to pay the remaining $75 in two years. d. Signed a short-term note to borrow $12 cash. e. Conducted negotiations to purchase a sawmill, which is expected to cost $32, 4. Summarize the journal entry effects from part 3 using T-accounts. Use the September 30, 2016, ending balances as the beginning balances for the October-December 2016 quarter. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Cash Accounts Receivable Beg Bal Beg Bal. End Bal End Bal Inventory Prepaid Rent Beg Bal Beg Bal End Bal End Bal Equipment Software