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 1,160 shares of $1 par value common stock with a market price of $40 per share. b. Leased $7,400 of equipment, paying $1,800 in cash and signing a long-term right-of-use lease for the rest owed. c. Borrowed $14,000 cash from a bank. d. Loaned $800 to an employee who signed a note due in six months. e. Purchased $19,000 of land; paid $5,000 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 the receipt of cash and the distribution of 1,160 shares of $1 par value common stock with a market price of $40 per share Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal