Open with James Brothers Corporation was incorporated as a private company. During the month of July, the company had the following transactions: a. Borrowed $120,000 cash from a local bank, payable in two years 14 b. Bought a factory building for $212,000; paid $97,000 in cash and signed a three-year note for the balance. 15 c. Paid cash for equipment that cost $230,000. 15 d. Purchased supplies for $34,500 on account. 17 18 Required: 19 PART 1 20 21 Analyze transactions (a)-(d) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign.) 22 23 24 5 Assets ANALYZE Liabilities Stockholders' Equity 6 James Brothers Corporation was incorporated as a private company. During the month of July, the company had the following transactions: a. Borrowed $120,000 cash from a local bank, payable in two years. b. Bought a factory building for $212,000; paid $97,000 in cash and signed a three-year note for the balance. c. Paid cash for equipment that cost $230,000. d. Purchased supplies for $34,500 on account. Required: PART 1 Analyze transactions (a)-(d) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign.) Assets ANALYZE Liabilities Stockholders' Equity