E2-4 (Algo) Determining Financial Statement Effects of Several Transactions LO2-3 The following events occurred for Johnson Company: a. Received investment of cash by organizers and distributed to them 1,180 shares of $1 par value common stock with a market price of $20 per share. b. Leased $8,400 of equipment, paying $1,300 in cash and signing a long-term right-of-use lease for the rest owed. c. Borrowed $12,000 cash from a bank. d. Loaned $600 to an employee who signed a note due in six months. e. Purchased $19,623 of land; paid $9,000 in cash and signed a note for the balance. Required: For each of the events (a) through (e), perform transaction analysis and indicate the account and amount. Check that the accounting equation remains in balance after each transaction. Note: Enter decreases to an element of the balance sheet with a minus sign. If no impact on accounting equation leave cells blank