The following transactions occurred during June, the first month of operations for Accurate Manufacturing: - Issued 60,000 shares of capital stock to the owners of the corporation in exchange for $600,000 cash. - Purchased a piece of land for $250,000, making an $80,000 cash down payment and signing a note payable for the balance. - Made a $100,000 cash payment on the note payable from the purchase of land. - Purchased equipment on credit from National Supply for $40,000. Refer to the above data: What are total liabilities of Accurate Manufacturing at the end of June $200,000 $110,000 $70,000 $240.000