J$.$ Kamas and G$.$ Charrier have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Incorporated. The following transactions occurred in March:

Received $$96,000$ cash from each of the two shareholders to form the corporation, in addition to $$3,600$ in accounts receivable, $$8,500$ in equipment, a van $($equipment$)$ appraised at a fair value of $$16,200,$ and $$2,000$ in supplies. Gave the two owners each $820$ shares of common stock with a par value of $$1$ per share.

Purchased a vacant store for sale in a good location for $$520,000,$ making a $$104,000$ cash down payment and signing a $10-$year mortgage note from a local bank for the rest.

Borrowed $$66,000$ from the local bank on a $10$ percent, one$-$year note.

Purchased food and paper supplies costing $$13,400$ in March; paid cash.

Catered four parties in March for $$5,800$; $$1,920$ was billed and the rest was received in cash.

Sold food at the retail store for $$17,700$ cash.

Used food and paper supplies costing $$11,150.$

Received a $$580$ telephone bill for March to be paid in April.

Paid $$523$ in gas for the van in March.

Paid $$9,480$ in wages to employees who worked in March.

Paid a $$460$ dividend from the corporation to each owner.

Purchased $$66,000$ of equipment $($refrigerated display cases, cabinets, tables, and chairs$)$ and renovated and decorated the new store for $$28,000($added to the cost of the building$)$; paid cash.

Required:

$2.$ Record in the T$-$accounts the effects of each transaction for Traveling Gourmet, Incorporated, in March.