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[The following information applies to the questions displayed below] Bearlngs & Brakes Corporation (B&B) was Incorporated as a prlvate company. The company's accounts Included the
[The following information applies to the questions displayed below] Bearlngs \& Brakes Corporation (B\&B) was Incorporated as a prlvate company. The company's accounts Included the following at June 30 : During the month of July, the company had the following activitles: a. Issued 6,000 shares of common stock for $600,000 cash. b. Borrowed $60,000 cash from a local bank, payable in four years. c. Bought a bullding for $166,000; pald $66,000 in cash and signed a three-year note for the balance. d. Pald cash for equipment that cost $90,000. e. Purchased supplies for $90,000 on account. Record the transaction effects determined In part 1 using a journal entry format. (If no entry is requlred for a transactlon/event, ielect "No Journal Entry Required" In the first account fleld.) Journal entry worksheet \begin{tabular}{lllll}
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