The following transactions apply to the Garber Corporation for Year 1, its first year in business. 1) Issued stock to investors, $48,000. 2) The company borrowed $42,000 cash from the bank. 3) Services were provided to customers and $50,000 cash was received. 4) The company acquired land for $44,000. 5) The company paid $34,000 rent for the building where it does its business. 6) The company paid $3,200 for supplies that were used during the period. 7) The land