P$1.$ Business activities for the Coyote Company for December $2023$ are presented below. Coyote

Issued common stocks for $$700,000$ in cash.

Purchased land at $$145,000$ in cash.

Purchased equipment at $$60,000,$ for which $$15,000$ was paid in cash and the remainder on cre

Purchased supplies for $$1,000$ in cash.

Paid off what Coyote owes to purchase the equipment in transaction $3.$

Paid wages of $$5,000$ to employees.

Hired an administrative assistant at an annual salary of $$60,000.$

Purchased inventory for $$120,000,$ for which $$70,000$ was paid in cash and the remainder on credi

Paid off what Coyote owes for the purchase of inventory in transaction $\text{'}8\text{'}.$

Sold inventory costing $$50,000$ for $$80,000$ on credit.

Received the full payment for the transaction $\text{'}10\text{'}$ in cash.

Paid dividends to stockholders of $$2,500.$

Instructions: prepare any necessary journal entries for each activity above and identify each activity number. You may omit journal explanations.