Falentino Santironi Inc. was formed in the current year. During the year the company had the following events occur:

$1.$The company issued $$100,000$ in common shares for cash.

$2.$The company purchased equipment for $$15,000,$ paying $$5,000$ down and signing a $1-$year, $8\%$ note for the balance.

$3.$The company hired $4$ employees.

$4.$The company had sales of $$250,000.$ All sales were on account.

$5.$The company incurred the following expenses: rent: $$2,000,$ salaries: $$20,000,$ advertising $$2,000$ and utilities $$4,000.$ All expenses were paid in cash.

Required: Prepare the journal entries to record the above transactions