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

Accounts Payable	$	94,000
Buildings		670,000
Cash		107,000
Common Stock		340,000
Equipment		182,000
Land		529,000
Notes Payable (long-term)		10,000
Retained Earnings		1,051,000
Supplies		7,000

During the month of July, the company had the following activities:
a.	Issued 4,600 shares of common stock for $460,000 cash.
b.	Borrowed $145,000 cash from a local bank, payable in four years.
c.	Bought a building for $200,000; paid $83,000 in cash and signed a three-year note for the balance.
d.	Paid cash for equipment that cost $107,000.
e.	Purchased supplies for $107,000 on account.

[The following information applies to the questions displayed below] Bearings & Brakes Corporation (B&B) was incorporated as a private company. The company's accounts included the following at June 30 Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 94,000 670,000 107,000 340,000 182,000 529,000 10,000 1,051,000 7,000 During the month of July, the company had the following activities a. Issued 4,600 shares of common stock for $460,000 cash b. Borrowed $145,000 cash from a local bank, payable in four years c. Bought a building for $200,000; paid $83,000 in cash and signed a three-year note for the balance d. Paid cash for equipment that cost $107,000 e. Purchased supplies for $107,000 on account

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