Vegas Allen Interiors Incorporatedis a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Vegas Allen's June 30, 2019, trial balance. (The amounts shown represent millions of dollars.)

Accounts Payable	$ 152
Accounts Receivable	22
Cash	124
Common Stock	39
Equipment	335
Inventory	160
Notes Payable (long-term)	195
Notes Payable (short-term)	2
Prepaid Rent	41
Retained Earnings	357
Salaries and Wages Payable	32
Software	95

Assume that the following events occurred in the following quarter.

1. Paid $30 cash for additional inventory.
2. Issued additional shares of common stock for $25 in cash.
3. Purchased equipmentfor $210; paid $100 in cash and signed a note to pay the remaining $110 in two years.
4. Signed a short-term note to borrow $13 cash.
5. Conducted negotiations to purchase a sawmill, which is expected to cost $46.

PA2-3 (Algo) Part 4

1. Summarize the journal entry effects from part 3 using T-accounts. Use the June 30, 2019, ending balances as the beginning balances for the July-September 2019 quarter. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

Cash Accounts Receivable Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Ending Balance Inventory Prepaid Rent Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Ending Balance Equipment Software Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Ending Balance Accounts Payable Salaries and Wages Payable Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Ending Balance Notes Payable (short-term) Notes Payable (long-term) Debit Credit Debit CreditNotes Payable (short-term) Notes Payable (long-term) Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Ending Balance Common Stock Retained Earnings Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Ending Balance