Required Information E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO 2-4 [The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other Investors. The following activities occurred during the year: a. Received $78,000 cash from the six Investors; each Investor was issued 9,200 shares of common stock with a par value of $0.20 per share. b. Purchased equipment for use in the business at a cost of $26,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). C. Signed an agreement with a cleaning service to pay $200 per week for cleaning the corporate offices next year. d. Received an additional contribution from Investors who provided $3,800 in cash and land valued at $23,000 in exchange for 1,800 shares of stock in the company. e. Lent $3,300 to one of the investors, who signed a note due in six months. f. Bennett Griffin borrowed $7,800 for personal use from a local bank, signing a one-year note. Cash 0 Beg. Bal. (a) (d) Answer is complete but not entirely correct. Notes Receivable Beg. Bal 0 (e) 7,800 3,300 78,000 3,800 6,500 3,300 7,800 (b) (e) (f) End. Bal. 64,200 End. Bal. 11,100 Equipment Land Beg. Bal. 0 0 Beg. Bal. (d) (b) 26,000 23,000 End. Bal. 26,000 End. Bal. 23,000 Notes Payable Common Stock Beg. Bal. 0 Beg. Bal. 0 19,500 (b) 5,520 (a) (d) 180 End. Bal. 19,500 End. Bal. 5,700 Beg. Bal. Additional Paid-in Capital 0 2,280 26,800 (a) (d) End. Bal. 29,080