! Required information PB2-2 (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.] Bearings & Brakes Corporation (B&B) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Cash Common Stock $64,000 570,000 97,000 240,000 Equipment Land Notes Payable (long-term) Retained Earnings Supplies 162,000 479,000 12,000 1,001,000 9,000 During the month of July, the company had the following activities: a. Issued 3,600 shares of common stock for $360,000 cash. b. Borrowed $95,000 cash from a local bank, payable in four years. c. Bought a building for $180,000; paid $73,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $97,000. e. Purchased supplies for $97,000 on account.