Fruity Farms was incorporated as a private company on January 1, 2017. The company's accounts included the following at January 31, 2017: Accounts Payable Building Bank Overdraft Contributed Capital Equipment $ 20,000 50,000 9,000 75,000 47,000 Land Notes Payable, due 2019 Retained Earnings Supplies $100,000 22,000 74,000 3,000 During the month of February, the company had the following activities: a. Paid a dividend to shareholders of $15,000. b. Repaid $10,000 cash to a local bank. C. Issued 500 shares for $50,000 cash. d. Purchased equipment for $30,000, paying $3,000 in cash and signing a note due in six months for the balance. e. Purchased supplies for $3,000 on account. 2. Record the transaction effects determined in requirement 1 using a journal entry format. (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 Paid a dividend to shareholders of $15,000. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal