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E2-8 Analyzing the Effects of Transactions in T-Accounts [LO 2-2, LO 2-3, LO 2-5) [The following information applies to the questions displayed below Mulkeen Service Company. Inc. was incorporated by Conor Mulkeen and five other managers. The following activities occurred during the year a. Received $56,000 cash from the managers: each was issued 1,600 shares of common stock b. Purchased equipment for use in the busness at a cost of $10.800: one-fourth was paid in cash and the company signed a note for the balance (due in six months) c. Signed an agreement with a cleaning service to pay it $90 per week for cleaning the corporate offices. d. Conor Mulkeen borrowed $19.000 for personal use from a local bank, signing a one-year note. beginning next year References Section Break E2-8 Analyzing the Effects of Transactions in T-Accounts 2, LO 2-3, LO 2-5)