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a. Received investment of cash by organizers and distributed to them 1,120 shares of $1 par value common stock with a market price of $40 per share. b. Leased $7,600 of equipment, paying $1,700 in cash and signing a long-term right-of-use lease for the rest owed. c. Borrowed $6,000 cash from a bank. d. Loaned $600 to an employee who signed a note due in six months. e. Purchased $22,000 of land: paid $8,000 in cash and signed a note for the balance. Required: Prepare journal entries for the above transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 5 Record the receipt of cash and the distribution of 1,120 shares of $1 par value common stock with a market price of $40 per share Notel Enter debits before tredits:

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