Compute the following journal entries:

Paid 12-months rent in advance on October 1, 2019 of $24,000, debit pre-paid rent.

Purchased equipment for $60,000 on August 1, 2019 by giving a 9-month, 6% note for $60,000.

Paid $2,500 for maintenance and repairs.

Sold common stock (on January 1), 30,000 shares for $10 per share. The par value is $2 per share.

Sold preferred stock, 2,000 shares for $25 per share. The par value is $25 per share.

Paid utilities of $4,800.