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 $103,000 Buildings 700,000 Cash 110,000 Common Stock 370,000 Equipment 188,000 Land 544,000 Notes Payable (long-term) 13,000 Retained Earnings 1,066,000 Supplies 10,000 During the month of July, the company had the following activities: a. Issued 4,900 shares of common stock for $490,000 cash. b. Borrowed $160,000 cash from a local bank, payable in four years. c Bought a building for $206,000; paid $86,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $110,000. e. Purchased supplies for $110,000 on account. 4. Prepare a trial balance at July 31. Answer is not complete. BEARINGS & BRAKES CORPORATION Trial Balance At July 31 Debit Credit 206,000 564,000 370,000 $ Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies 298,000 $ 544,000 13,000 1,066,000 120,000 Totals 1.732,000 $ 1,449,000