E2-6 (Algo) Recording Investing and Financing Activities LO2-4 The following events occurred for Johnson Company a Received investment of cash by organizers and distributed to them 1,200 shares of $1 par value common stock with a market price of $45 per share. b. Leased $8,000 of equipment, paying $1,500 in cash and signing a long-term right-of-use lease for the rest owed c. Borrowed $13,000 cash from a bank. d. Loaned $1,300 to an employee who signed a note due in six months. e. Purchased $20,000 of land; paid $9,000 in cash and signed a note for the balance. Required: Prepare journal entries for the above transactions Note: 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 4 5 Record the receipt of cash and the distribution of 1,200 shares of $1 par value common stock with a market price of $45 per share Note: Enter debits before credits Transaction a General Journal Debit Credit Record entry Clear entry View general journal E2-6 (Algo) Recording Investing and Financing Activities LO2-4 The following events occurred for Johnson Company. a. Received investment of cash by organizers and distributed to them 1,200 shares of $1 par value common stock with a market price of $45 per share. b. Leased $8,000 of equipment, paying $1,500 in cash and signing a long-term right-of-use lease for the rest owed c. Borrowed $13,000 cash from a bank d. Loaned $1,300 to an employee who signed a note due in six months. e. Purchased $20,000 of land; paid $9,000 in cash and signed a note for the balance. Required: Prepare journal entries for the above transactions. Note: 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 2 3 4 5 Record the $8,000 lease of equipment with $1,500 cash and the rest on long- term right-of-use lease. Note: Enter debits before credits Transaction b. General Journal Debit Credit Record entry Clear entry View general journal E2-6 (Algo) Recording Investing and Financing Activities LO2-4 The following events occurred for Johnson Company a. Received Investment of cash by organizers and distributed to them 1,200 shares of $1 par value common stock with a market price of $45 per share. b. Leased $8,000 of equipment, paying $1,500 in cash and signing a long-term right-of-use lease for the rest owed. c. Borrowed $13,000 cash from a bank. d. Loaned $1,300 to an employee who signed a note due in six months. e. Purchased $20,000 of land, paid $9,000 in cash and signed a note for the balance. Required: Prepare journal entries for the above transactions. Note: 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 < 1 2 3 4 5 Record $13,000 cash borrowed from bank. Note: Enter debits before credits Transaction C General Journal Debit Credit Record entry Clear entry View general journal E2-6 (Algo) Recording Investing and Financing Activities LO2-4 The following events occurred for Johnson Company a. Received investment of cash by organizers and distributed to them 1,200 shares of $1 par value common stock with a market price of $45 per share. b. Leased $8,000 of equipment, paying $1,500 in cash and signing a long-term right-of-use lease for the rest owed. c. Borrowed $13,000 cash from a bank d. Loaned $1,300 to an employee who signed a note due in six months. e. Purchased $20,000 of land, paid $9,000 in cash and signed a note for the balance. Required: Prepare journal entries for the above transactions. Note: 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 < 1 2 5 Record $1,300 loan to an employee who signed a note due in six months. Note Enter debits before credits Transaction d General Journal Debit Credit Record entry Clear entry View general journal E2-6 (Algo) Recording Investing and Financing Activities LO2-4 The following events occurred for Johnson Company. a. Received investment of cash by organizers and distributed to them 1,200 shares of $1 par value common stock with a market price of $45 per share. b. Leased $8,000 of equipment, paying $1,500 in cash and signing a long-term right-of-use lease for the rest owed. c. Borrowed $13,000 cash from a bank d. Loaned $1,300 to an employee who signed a note due in six months. e. Purchased $20,000 of land; paid $9,000 in cash and signed a note for the balance. Required: Prepare journal entries for the above transactions. Note: 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 < 1 2 3 4 Record the $20,000 land purchase paid with $9,000 cash and a note for the balance. Note: Entes debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal