. Received $50,000 cash from owners in exchange for common stock . Purchased land for $20,000, paid $5,000 in cash and signed a 2-year note for the remainder Bought $900 of supplies on account. . Purchased $10,000 of equipment, paying cash e. Paid $500 on account for supplies purchased in transaction (c). Cash 900 10,000 d 500 e. al 34,500 bal Land Equipment al bal 10 Accounts Payable Note Payable 500 900 ?. bal bal Common Stock