Required information [The following information applies to the questions displayed below.] Athletic Performance Company (APC) was incorporated as a private company. The company's accounts included the following at July 1: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 4,600 215,000 13,600 324,000 22,000 98,000 25,500 0 5,500 During the month of July, the company had the following activities: a. Issued 3,900 shares of common stock for $390,000 cash. b. Borrowed $35,750 cash from a local bank, payable in two years. c. Bought a building for $208,250; paid $62,250 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $152,000. e. Purchased supplies for $13,100 on account. 4. Prepare a trial balance at July 31. ATHLETIC PERFORMANCE COMPANY Trial Balance At July 31 Debit Credit Cash Supplies Equipment Buildings Land Accounts Payable Notes Payable (long-term) Common Stock Retained Earnings Totals $ 0 $ 0