Required information E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO2-4 (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 $90,000 cash from the six investors; each investor was issued 10,400 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 $38,000; 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 $320 per week for cleaning the corporate offices next year. d. Received an additional contribution from investors who provided $5,000 in cash and land valued at $35,000 in exchange for 3,000 shares of stock in the company. e. Lent $4,500 to one of the investors, who signed a note due in six months. f. Bennett Griffin borrowed $9,000 for personal use from a local bank, signing a one-year note. E2-9 Part 1 Required: 1. For each of the preceding transactions, record the effects of the transaction in the appropriate T-accounts. Cash Notes Receivable Beg. Bal. 0 Beg. Bal. End. Bal. (a) (b) Equipment Land (c) (d) 0 Beg. Bal. 0 End. Bal. End. Bal. Notes Payable Common Stock Beg. Bal. 0 Beg. Bal. 0 End. Bal. End. Bal. Additional Paid-in Capital Beg. Bal. 0 End. Bal