Required information [The following information applies to the questions displayed below?] Performance Plastics Company (PPC) has been operating for three years. The beginning account balances are: During the year, the company had the following summarized activities: a. Purchased equipment that cost $24,300; paid $8,000 cash and signed a two-year note for the balance. b. Issued an additional 3,300 shares of common stock for $33,000 cash. c. Borrowed $98,500 cash from a local bank, payable June 30 , in two years. d. Purchased supplies for $6,700 cash. e. Bult an addition to the factory buildings for $45,250; paid $15,000 in cash and signed a three-year note for the balance. f Hired a new president to start January 1 of next year. The contract was for $95,000 for each full year worked. 2. Record the transaction effects determined in part 1 using journal entries, (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field)