E2-5 (Algo) Recording Journal Entries [LO 2-3] The following events occurred for Favata Company: a. Received $16,000 cash from owners and issued stock to them. b. Borrowed $13,000 cash from a bank and signed a note due later this year. c. Bought and received $1,400 of equipment on account. d. Purchased land for $24,000; paid $2,200 in cash and signed a long-term note for $21,800. e. Purchased $9,000 of equipment, paid $2,200 in cash and charged the rest on account. Required: For each of the above events, prepare journal entries. (If no entry is required for a transaction/event, select "No Journal Ent Required" in the first account field.) Journal entry worksheet Received $16,000 cash from owners and issued stock to them. Record the transaction. Note: Enter debits before credits