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 Equipment Land Notes Payable (long-term) Retained Earnings Supplies $91,000 640,000 104,000 310,000 176,000 514,000 7,000 1,036,000 10,000 During the month of July, the company had the following activities: a. Issued 4,300 shares of common stock for $430,000 cash. b. Borrowed $130,000 cash from a local bank, payable in four years. c. Bought a building for $194,000; paid $80,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $104,000. e. Purchased supplies for $104,000 on account. PB2-2 (Algo) Part 4 4. Prepare a trial balance at July 31. BEARINGS & BRAKES CORPORATION Trial Balance At July 31 Debit Credit Totals $ 0 $ 0