E2-6 (Algo) Recording Investing and Financing Activities LO 2-4 The following events occurred for Johnson Company: a. Received investment of cash by organizers and distributed to them 1,190 shares of $1 par value common stock with a market price of $25 per share. b. Purchased $8,400 of equipment, paying $1,300 in cash and owing the rest on accounts payable to the manufacturer. c. Borrowed $7,000 cash from a bank. d. Loaned $600 to an employee who signed a note. e. Purchased $21,000 of land; paid $9,000 in cash and signed a note for the balance. Required: Prepare journal entries for the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the receipt of cash and the distribution of 1,190 shares of $1 par value common stock with market price of $25 per share Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal