Madison Shoes manufactures athletic shoes and sports apparel. Assume the following activities occurred during a recent year. The dollar amounts in (a) and (b) are presented "in millions," and the dollar amount in (c) is per share. When reporting amounts "in millions." exclude the 000,000 . a. Purchased $218 in equipment; paid by signing a $4 long-term note and fulfilling the rest with cash, b. Issued $20 in additional common stock for cash contributions made by stockholders. c. Several Madison Shoes investors sold their own stock to other investors on the stock exchange for $120 per share of stock. Required: 1. For each of the events above, prepare journal entries. 2. Which statement best describes transaction (C) ? Complete this question by entering your answers in the tabs below. For each of the events above, prepare journal entries. (If no entry is required for a transaction/event, select "No Journai Entry Required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Journal entry worksheet Journal entry worksheet Purchased $218 in equipment; paid by signing a $4 long-term note and fulfilling the rest with cash. Record the transaction. Note: Enter debits before credits