The following events occurred for Johnson Company:


a. Received investment of cash by organizers and distributed to them 1,130 shares of $1 par value common stock with a market price of $25 per share.

b. Purchased $8,500 of equipment, paying $1,200 in cash and owing the rest on accounts payable to the manufacturer.

c. Borrowed $9,000 cash from a bank. Loaned $700 to an employee who signed a note.

d. Purchased $20,000 of land; paid $8,000 in cash and signed a note for the balance.


Required:

Prepare journal entries for the above transactions.