A company completed the following transactions: a. Purchased land valued at $80,000 and a building valued at $320,000. The purchase is paid for with $60,000 cash and a note payable for $340,000. b. Paid $500 cash for an insurance premium covering the next 12 months. c. Completed office services for a customer and collected $1,000 cash. d. Paid $200 cash for office supplies. e. Paid $2,000 for October’s rent. Prepare journal entries to record each transaction