Required information CP2-2 Recording Transactions (in a Journal and T-Accounts); Preparing a Trial Balance; Preparing and Interpreting the Balance Sheet (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 $ 4,000 200,000 16,000 308,000 18,000 90,000 17,000 5,000 During the month of July, the company had the following activities: a. Issued 2,000 shares of common stock for $200,000 cash. b. Borrowed $30,000 cash from a local bank, payable in two years. C. Bought a building for $141,000; paid $41,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $100,000. e. Purchased supplies for $10,000 on account. CP2-2 Part 1 Required: 1. Analyze transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign.) Assets Cash Land Liabilities Accounts Payable Payable 4,000 17,000 Notes Supplies Buildings Equipment 5,000 200,000 18,000 Stockholders' Equity Common Retained Stock Earnings 308,000 Beg. 16,000 90,000 a b. C d. e End. 16,000 5,000 200,000 18,000 90,000 4,000 17,000 308,000 0 Required information CP2-2 Recording Transactions (in a Journal and T-Accounts); Preparing a Trial Balance; Preparing and Interpreting the Balance Sheet (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 $ 4,000 200,000 16,000 308,000 18,000 90,000 17,000 0 5,000 Land Notes Payable (long-term) Retained Earnings Supplies During the month of July, the company had the following activities: a. Issued 2,000 shares of common stock for $200,000 cash. b. Borrowed $30,000 cash from a local bank, payable in two years. c. Bought a building for $141,000; paid $41,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $100,000. e. Purchased supplies for $10,000 on account