4. Summarize the journal entry effects from part 3 using T-accounts. Use the June 30th, 2019, ending balances as the beginning balances for the July-September 2019 quarter.

previous question with important information below (part 3)

Required information PA2-3 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5] [The following information applies to the questions displayed below.] 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.) Assume that the following events occurred in the following quarter. a. Paid $40 cash for additional inventory. b. Issued additional shares of common stock for $30 in cash. c. 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. 4. Summarize the joumal entry effects from part 3 using T-accounts. Use the June 30,2019 , ending balances as the beginning balances for the July-September 2019 quarter. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) a. Paid $40cash for additional inventory. b. Issued additional shares of common stock for $30 in cash. c. 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. A2-3 (Algo) Part 3 Record the transaction effects determined in part 2 using joumal entries. (If no entry is required for a transaction/event, select "N. Joumal Entry Required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10)