PA2-3 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5] [The following information applies to the questions displayed below.] Vegas Allen Interiors Incorporated is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Vegas Allen's June 30, 2019, 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 $136 31 142 32 380 178) 240 3 34 393 41 80 Assume that the following events occurred in the following quarter. a. Paid $40 cash for additional inventory. b. Issued additional shares of common stock for $20 in cash. c. Purchased equipment for $220; paid $105 in cash and signed a note to pay the remaining $115 in two years. d. Signed a short-term note to borrow $10 cash. e. Conducted negotiations to purchase a sawmill, which is expected to cost $40, 07 PA2-3 (Algo) Part 2 2. Analyze transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Assets Liabilities Cash Inventory Equipment Notes Payable (short-term) Notes Payable (long-term) Stockholders' Equity Common Stock a b C d. e