Performance Plastics Company (PPC) has been operating for three years. The beginning account balances are: Cash Accounts Receivable Inventory Supplies Notes Receivable (due in three years) Equipment Buildings Land Accounts Payable $ 58,750 8,550 46,500 7,550 4,550 82,500 128,000 49,500 32,250 110,500 150,000 93,150 Notes Payable (due in three years) Common Stock Retained Earnings During the year, the company had the following summarized activities: a. Purchased equipment that cost $26,200; paid $5,500 cash and signed a two-year note for the balance. b. Issued an additional 2,200 shares of common stock for $22,000 cash. c. Borrowed $65,000 cash from a local bank, payable June 30, in two years. d. Purchased supplies for $8,050 cash. e. Built an addition to the factory buildings for $66,750; paid $32,000 in cash and signed a three-year note for the ba f. Hired a new president to start January 1 of next year. The contract was for $95,000 for each full year worked. Journal entry worksheet < A B C D E F Purchased equipment that cost $26,200; paid $5,500 cash and signed a two- year note for the balance. Record the transaction. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < A B C DE F Issued an additional 2,200 shares of common stock for $22,000 cash. Record the transaction. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < A B D E F Borrowed $65,000 cash from a local bank, payable June 30, in two years. Record the transaction. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < A B C D E F Purchased supplies for $8,050 cash. Record the transaction. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet < A B C D E F account field.) Built an addition to the factory buildings for $66,750; paid $32,000 in cash and signed a three-year note for the balance. Record the transaction. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < A B C D E F Hired a new president to start January 1 of next year. The contract was for $95,000 for each full year worked. Record the transaction. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal