Required information [The following information applies to the questions displayed below.) Mulkeen Service Company, Inc., was incorporated by Conor Mulkeen and five other managers. The following activities occurred during the year: a Received $46,000 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 $7,800; 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 $65 per week for cleaning the corporate offices, beginning next year. d. Conor Mulkeen borrowed $14,000 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 Cash Equipment Beg. Bal. 46,000 7,800 46.000 End. Bal. 7.800 Notes Payable Common Stock Beg. Bal. 46,000 a End. Bal. 46,000