CheapBooks Incorporated (CBI) had the following business activities: 1. Stockholders invest $75,000 cash in the corporation. 2. CBI purchased $560 of office supplies on credit. 3. CBI purchased office equipment for $10,000, paying $2,400 in cash and signing a 30-day note payable for the remainder. 4. CBI paid $280 cash on account for office supplies purchased in transaction 2. 5. CBI purchased two acres of land for $29,000, signing a 2-year note payable. 6. CBI sold one acre of land at one-half of the total cost of the two acres, receiving the full amount or $14,500 in cash. 7. CBI made a payment of $14,500 on its 2-year note. Required: Prepare journal entries for the above transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)