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 $ 100,000 690,000 109,000 360,000 186,000 539,000 12,000 1,061,000 9,000 During the month of July, the company had the following activities: a. Issued 4,800 shares of common stock for $480,000 cash. b. Borrowed $155,000 cash from a local bank, payable in four years. c. Bought a building for $204,000; paid $85,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $109,000. e. Purchased supplies for $109,000 on account. 3. Summarize the journal entry effects from part 2 using T-accounts. Cash Beg. Bal. End. Bal. Supplies Beg. Bal. End. Bal. Equipment Buildings Bea Bel