$[$The following information applies to the questions displayed below.$]$ Required:

For each of the preceding transactions, record the effects of the transaction in the appropriate T$-$accounts.

Griffin Service Company, Incorporated, was organized by Bennett Griffin and five other investors $($that is$,$ six in total$).$ The

following activities occurred during the year:

a$.$ Received $$76,000$ cash from the six investors; each investor was issued $9,000$ shares of common stock with a par

value of $$0\mathrm{.}20$ per share.

b$.$ Signed a five$-$year lease for $$159,000$ for the right to use a building each year.

c$.$ Purchased equipment for use in the business at a cost of $$24,000$; one$-$fourth was paid in cash and the company

signed a note for the balance $($due in six months$).$

d$.$ Signed an agreement with a cleaning service to pay $$180$ per week for cleaning the corporate offices next year.

e$.$ Received an additional contribution from investors who provided $$3,600$ in cash and land valued at $$21,000$ in

exchange for $1,600$ shares of stock in the company.

f$.$ Lent $$3,100$ to one of the investors, who signed a note due in six months.

g$.$ Bennett Griffin borrowed $$7,600$ for personal use from a local bank, signing a one$-$year note.