Required information [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 $ 50,000 500,000 90,000 170,000 148,000 444,000 5,000 966,000 9,000 During the month of July, the company had the following activities: a. Issued 6,000 shares of common stock for $600,000 cash. b. Borrowed $60,000 cash from a local bank, payable in four years. c. Bought a building for $166,000; paid $66,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $90,000. e. Purchased supplies for $90,000 on account. 2. Record the transaction effects determined in part 1 using a journal entry format. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 1 2 3 4 5 Issued 6,000 shares of common stock for $600,000 cash. Record the transaction. Note: Enter debits before credits. Transaction a General Journal Debit Credit View general journal Record entry Clear entry > Journal entry worksheet < 1 2 3 4 5 Borrowed $60,000 cash from a local bank, payable in four years. Record the transaction. Note: Enter debits before credits. Transaction b General Journal Debit Credit View general journal Clear entry Record entry > Journal entry worksheet < 1 2 3 4 5 Bought a building for $166,000; paid $66,000 in cash and signed a three-year note for the balance. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit View general journal Clear entry Record entry > Journal entry worksheet < 1 2 3 4 5 Paid cash for equipment that cost $90,000. Record the transaction. Note: Enter debits before credits. Transaction d General Journal Debit Credit View general journal Record entry Clear entry > Journal entry worksheet < 1 2 3 4 5 01 Purchased supplies for $90,000 on account. Record the transaction. Note: Enter debits before credits. Transaction e General Journal Debit Credit View general journal Record entry Clear entry >