Enter the following transactions in the two-column journal of Baumann Bathrooms. Include a brief explanation of...

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Enter the following transactions in the two-column journal of Baumann Bathrooms. Include a brief explanation of the transaction as part of each journal entry. Borrowed $90,000 cash from the bank by signing a 90-day note payable. Mar 1 3 Issued an additional 5,000 shares of capital stock in exchange for $40,000 cash Purchased an adjacent vacant lot for use as parking space. The price was $70,000, of which $30,000 was paid in cash; a note payable was issued for the balance. 8 Acquired shop equipment from Elite Baths for $5,400 cash. 8 Collected an account receivable of $2,900 from a customer, Beekman Art Shoppe. Issued a check for $1,060 in full payment of an account payable to Austin Industries, Inc. 41 Date General Journal 20 Mar 1 3 4 8 8 Enter the following transactions in the two-column journal of Baumann Bathrooms. Include a brief explanation of the transaction as part of each journal entry. Borrowed $90,000 cash from the bank by signing a 90-day note payable. Mar 1 3 Issued an additional 5,000 shares of capital stock in exchange for $40,000 cash Purchased an adjacent vacant lot for use as parking space. The price was $70,000, of which $30,000 was paid in cash; a note payable was issued for the balance. 8 Acquired shop equipment from Elite Baths for $5,400 cash. 8 Collected an account receivable of $2,900 from a customer, Beekman Art Shoppe. Issued a check for $1,060 in full payment of an account payable to Austin Industries, Inc. 41 Date General Journal 20 Mar 1 3 4 8 8

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