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Fabulous Allen Interiors Incorporated is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Fabulous Allen's June 30, 2019, trial balance. (The amounts shown represent millions of dollars.) Accounts Payable Accounts Receivable Cash Common Stock Equipmunt Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Sejaries and Wages Payable Software $ 116 15 110 25 300 146 160 J 27 329 25 60 Assume that the following events occurred in the following quarter. a. Paid $40 cash for additional inventory. Issued additional shares of common stock for $30 in cash. Purchased equipment for $140; paid $65 in cash and signed a note to pay the remaining $75 in two years. d. Signed a short-term note to borrow $12 cash. e. Conducted negotiations to purchase a sawmill, which is expected to cost $32. Journal entry worksheet < 1 2 3 4 5 Paid $40 cash for additional inventory. Record the transaction. Note: Enter debits before credits. Transaction + General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 3 4 5 Issued additional shares of common stock for $30 in cash. Record the transaction. Note: Enter debits before credits. Transaction b General Journal Debit Credit Journal entry worksheet 1 2 4 5 Purchased equipment for $140; paid $65 in cash and signed a note to pay the remaining $75 in two years. Record the transaction. Note: Enter debits before credits. Transaction C General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet < 1 2 3 5 Signed a short-term note to borrow $12 cash. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 Conducted negotiations to purchase a sawmill, which is expected to cost $32. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal

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