During the month of July, the company had the following activities: a. Issued 2,200 shares of common stock for $220,000 cash. b. Borrowed $40,250 cash from a local bank, payable in two years. c. Bought a building for $187,000; paid $52,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $182,000. e. Purchased supplies for $15,500 on account. 4. Prepare a trial balance at July 31. Include Retained Earnings on the balance sheet even though the account has a zer Trial Balance
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