! Required information CP2-2 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing a Trial Balance; 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.] Athletic Performance Company (APC) was incorporated as a private company. The company's accounts included the following at July 1: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 5,200 227,000 14,700 334,000 39,000 90,500 38,250 0 6,250 During the month of July, the company had the following activities: a. Issued 2,800 shares of common stock for $280,000 cash. b. Borrowed $34,000 cash from a local bank, payable in two years. c. Bought a building for $212,000; paid $54,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $120,000. e. Purchased supplies for $18,700 on account.