Question: Show me the steps to solve ! Required information [ The following information applies to the questions displayed below. ] Athletic Performance Company ( APC
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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 :
tableAccounts Payable,$BuildingsCashCommon Stock,EquipmentLandNotes Payable longtermRetained Earnings,Supplies
During the month of July, the company had the following activities:
a Issued shares of common stock for $ cash.
b Borrowed $ cash from a local bank, payable in two years.
c Bought a building for $; paid $ in cash and signed a threeyear note for the balance.
d Paid cash for equipment that cost $
e Purchased supplies for $ on account.
Required:
Summarize the journal entry effects from part using Taccounts. TIP: Enter the July balances as the month's beginning
tableCashSuppliesDebitCredit,Debit,CreditBeginning Balance,Beginning Balance,,bcEnding Balance,Ending Balance,,EquipmentBuildingsDebitCredit,Debit,CreditBeginning Balance,,,Beginning Balance,,Ending Balance,,Ending Balance,,LandAccounts PayableDebitCredit,Debit,CreditBeginning Balance,,,Beginning Balance,,Ending Balance,,,Ending Balance,,
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