E2-6 Recording Investing and Financing Activities [LO 2-3] The following events occurred for Favata Company: a. Received $18,000 cash from owners and issued stock to them. b. Borrowed $15,000 cash from a bank and signed a note due later this year. c. Bought and received $1,600 of equipment on account. d. Purchased land for $28,000; paid $2,600 in cash and signed a long-term note for $25,400. e. Purchased $11,000 of equipment, paid $2,600 in cash and charged the rest on account Required For each of the events in above, prepare journal entries. (lf no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Received $18,000 cash from owners and issued stock to them. Record the transaction Note: Enter debits before credits. Transaction General Journal Dobit Credit Record entry Clear entry View general journal