Brothers Mike and Tim Hargen began operations of their tool and die shop (H & H Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2017, follows:

Transactions during 2017 follow:

Borrowed $15,000 cash on a five-year, 8 percent note payable, dated March 1, 2017.

Purchased land for a future building site; paid cash, $13,000.

Earned $215,000 in revenues for 2017, including $52,000 on credit and the rest in cash.

Sold 4,000 additional shares of capital stock for cash at $1 market value per share on January 1, 2017.

Incurred $114,000 in Remaining Expenses for 2017, including $20,000 on credit and the rest paid in cash.

Collected accounts receivable, $34,000.

Purchased other assets, $15,000 cash.

Purchased supplies on account for future use, $27,000.

Paid accounts payable, $26,000.

Signed a three-year $33,000 service contract to start February 1, 2018.

Declared and paid cash dividends, $25,000.

1. Prepare journal entries for transactions (a) through (k). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

a.Record the borrowing of $15,000 cash on a five-year note payable dated March 1, 2017.

b.Record the purchase of land for future building site, paid cash, $13,000.

c.Record the entry for revenues for 2017, $215,000, including $52,000 on credit and the rest in cash.

d.Record the issuance of 4,000 additional shares for cash at $1 market value per share.

e.Record the remaining $114,000 of expenses for 2017, $20,000 on credit and the rest paid in cash.

f.Record the collection of accounts receivable, $34,000.

g.Record the purchase of other assets, $15,000 cash.

h.Record the purchase of supplies on account for future use, $27,000.

i.Record the payment of accounts payable, $26,000.

j.Record the entry for three-year $33,000 service contract signed to start February 1, 2018.

k.Record the declaration and payment of a cash dividends, $25,000.

December 31 The trial balance on January 2017 follows: Cas men depreciation on ent) other assets (not detailed to simplity) -term notes payable Common stock 8.000 shares $0.50 par value) revenue 5.000 109,000 3.000 4,000 80.000 17,00 109 000