• Journal entries for following:
• a. Received $63,000 cash from the investors; each was issued 1,400 shares.
• b. Purchased equipment for use in the business at a cost of $16,000; one-fourth was paid in cash, and the company signed a note for the balance, payable in six months. c. Signed an agreement with a cleaning service to pay it $200 per week for cleaning the corporate offices.
• d. Lent $2,500 to one of the investors, who signed a note due in six months.
• e. Issued shares to additional investors, who contributed $6,000 in cash and a lot of land valued at $15,000.
• f. Paid the amount of the note payable in (b).
• g. Conor Mulkeen borrowed $10,000 for personal use from a local bank and signed a note payable in one year.

• 1a. Cash 63,000 Contributed capital 63,000
• 2b. Equipment 16,000 Cash 4,000 Short-term note payable 12,000
• 3 c. No journal entry required
• 4 d. Cash 2,500 Short-term note receivable 2,500
• 5e. Cash 6,000 Land 15,000 5 21,000
• 6 f. Cash 12,000 Short-term note payable 12,000