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  3. issued 6,300 shares of common stock for $630,000 c

Issued 6,300 shares of common stock for $630,000 cash. Borrowed $163,000 cash from a local...

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Accounting

Issued 6,300 shares of common stock for $630,000 cash. Borrowed $163,000 cash from a local bank, payable in two years. Bought a building for $204,750; paid $101,750 in cash and signed a three-year note for the balance. Paid cash for equipment that cost $241,000. Purchased supplies for $46,500 on account. Record the transaction effects determined in part 1 using a journal entry format. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

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