Required information [The following information applies to the questions displayed below.] Mulkeen Service Company, Incorporated, was incorporated by Conor Mulkeen and five other managers. The following activities occurred during the year: a. Received $48,000 cash from the managers; each was issued 1,200 shares of common stock. b. Purchased equipment for use in the business at a cost of $8,400; one-fourth was paid in cash and the company signed a note for the balance (due in six months). c. Signed an agreement with a cleaning service to pay it \$70 per week for cleaning the corporate offices, beginning next year. d. Conor Mulkeen borrowed $15,000 for personal use from a local bank, signing a one-year note. Required: 1. For each of the above transactions, record its effects in the appropriate T-accounts. Assume all beginning balances are zero