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4. Prepre a trial balance at July 31. BEARINGS & BRAKES CORPORATION Trial Balance Debit Credit...

4. Prepre a trial balance at July 31.
BEARINGS & BRAKES CORPORATION
Trial Balance
Debit Credit
Totals $0 $0
  Accounts Payable $ 64,000
  Buildings 570,000
  Cash 97,000
  Common Stock 240,000
  Equipment 162,000
  Land 479,000
  Notes Payable (long-term) 12,000
  Retained Earnings 1,001,000
  Supplies 9,000

  

During the month of July, the company had the following activities:
a. Issued 3,600 shares of common stock for $360,000 cash.
b. Borrowed $95,000 cash from a local bank, payable in four years.
c. Bought a building for $180,000; paid $73,000 in cash and signed a three-year note for the balance.
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