redit Help for Lantana Company during its first month of operations 1 The following transactions occurred 2 and have been recorded in the T-accounts below. 4 a. Received S50,000 cash from owners in exchange for common stock. s b. Purchased land for $20,.000, paid $5,000 in cash and signed a 2-year note for the remainder. 6 c. Bought $900 of supplies on account d. Purchased $10,000 of equipment, paying cash. 8 e. Paid $500 on account for supplies purchased in transaction (c). 10 Cash Supplies 50,000 5,000 b. c 10,000 d. 12 13 500 e 34300 14 bal. bal 15 Land Equipment 17 b 18 19 bal. 10,000 10,000 Note Payable 20,000 bal Payable 21 22 e. 15,000 b 900 c