Kelsey Baker founded GolfDcals.com at the beginning of February. GolfDeals.com sells new and used golf equipment online.

Question:

Kelsey Baker founded GolfDcals.com at the beginning of February. GolfDeals.com sells new and used golf equipment online. The following events occurred in February.
a. Borrowed $30,000 cash from a bank, signing a note due in three years.
b. Received investment of cash by organizers and distributed to them 500 shares of $0.10 with a market price of $30 per share.
c. Purchased a warehouse for $115.000, paying $23,000 in cash and signing a note payable for the balance on a 10-year mortgage.
d. Purchased computer and office equipment for $20,000, paying $4,000 in cash and owing the rest on to the manufacturers.
e. Loaned $ 1,000 to an employee who signed a note due in three months.
f. Paid $2,000 to the manufacturers in (d) above.
g. Purchased short-term investments for $10,000 cash.
Required:
For each of the events (a) through (g), prepare journal entries, checking that debits equal credits.
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