1. Journalize the following events/transactions that Lobnitz entered into during the month.
   1. Received $4,000,000 from issuing 3,000,000 shares of $1 par value Lobnitz common stock. (When recording this entry, credit TWO distinct owners equity accounts.)
   2. Borrowed $2,500,000.
   3. Purchased for $800,000 cash an office building (property, plant, and equipment).
   4. Purchased $250,000 of office furniture (property, plant, and equipment) on a credit basis.
   5. Signed a rental agreement for office equipment for 6 months; the monthly rental rate was $2,000 per month. Lobnitz was required to pay for all 6 months at the time it signed the rental agreement.
   6. Performed $500,000 of services for customers on a credit basis.
   7. Incurred and paid $100,000 of wages expense.
   8. Incurred, but did not yet pay, $12.000 of utilities expense.
   9. Collected $75,000 of accounts receivable.
   10. Collected $125,000 from customers for work to be performed during the following month.