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

Bearings & Brakes Corporation (B&B) was incorporated as a private company. The companys accounts included the following at June 30:

Accounts Payable	$82,000
Buildings	610,000
Cash	101,000
Common Stock	280,000
Equipment	170,000
Land	499,000
Notes Payable (long-term)	4,000
Retained Earnings	1,021,000
Supplies	7,000

During the month of July, the company had the following activities:

1. Issued 4,000 shares of common stock for $400,000 cash.
2. Borrowed $115,000 cash from a local bank, payable in four years.
3. Bought a building for $188,000; paid $77,000 in cash and signed a three-year note for the balance.
4. Paid cash for equipment that cost $101,000.
5. Purchased supplies for $101,000 on account.