Confused. Thanks in advance for help

M2-13 (Algo) Identifying Transactions and Preparing Journal Entries (LO 2-3] J.K. Builders was incorporated on July 1. The following are the company's transactions for the month of July. a Recelved $85,000 cash invested by owners and issued common stock. b. Bought an unused field from a local farmer by paying $75,000 cash. As a construction site for smaller projects, it is estimated to be worth $80,000 to J.K. Builders. c. A lumber supplier delivered lumber supplies to J.K. Builders for future use. The lumber supplies would have normally sold for $25,000, but the supplier gave J.K. Builders a 12 percent discount J.K. Builders has not yet received the $22,000 bill from the supplier d. Borrowed $40,000 from the bank with a plan to use the funds to build a small workshop in August. The loan must be repaid in two years. e One of the owners sold $25,000 worth of his common stock to another shareholder for $26,000 Required: Prepare Journal entries for the above transactions from the first month of business. (If no entry is required for transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Received $85,000 cash invested by owners and issued common stock. Record the transaction Journal entry worksheet