For each of the following transactions, prepare journal entries: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

a. Inventory costing $3,400 was purchased on account. b. A payment of $3,100 was made on accounts payable. c. Inventory costing $1,800 was sold on account for $2,900. (Hint: Two journal entries are required.) d. Accounts receivable of $1,800 were collected. e. Supplies costing $1,500 were purchased on account. f. Supplies costing $500 were consumed during the period. g. New equipment costing $7,000 was purchased for cash. h. The company borrowed $12,000 from a bank. (Use Bank Loan Payable) i. The company issued common shares for $20,000. j. Wages totalling $6,800 were earned by employees and paid to them k. The company paid $1,800 on its bank loan, which included $160 of interest. I. The company paid $2,300 for the monthly rent on its leased premises m. Land costing $21,000 was purchased. The company paid $2,000 in cash and the remainder was financed with a mortgage (a long-term loan). (Use Mortgage Payable)