Required information

CP$2-2($Algo$)$ Recording Transactions $($in a Journal and T$-$Accounts$)$; Preparing a Trial Balance; 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.$]$

Athletic Performance Company $($APC$)$ was incorporated as a private company. The company's accounts included the

following at July $1$ :

During the month of July, the company had the following activities:

a$.$ Issued $4,000$ shares of common stock for $$400,000$ cash.

b$.$ Borrowed $$54,750$ cash from a local bank, payable in two years.

c$.$ Bought a building for $$176,250$; paid $$44,250$ in cash and signed a three$-$year note for the balance.

d$.$ Paid cash for equipment that cost $$236,000.$

e$.$ Purchased supplies for $$13,500$ on account.

CP$2-2($Algo$)$ Part $4$

Prepare a trial balance at July $31.$ Include Retained Earnings on the balance sheet even though the account has a zero balance.