Popover Company was formed on January 1, 2022. The three initial owners each invested $207,000 cash and each received 10,000 shares of $1 par value common stock. Below are selected transactions that were completed during January, 2022.

Issue shares of common stock to the owners.

Borrowed $167,000 on a one-year note payable.

Purchased land by signing a $147,000 note payable.

Paid $27,000 of accounts payable.

Purchased two service vehicles for cash at a cost of $55,000 each.

Purchased $4,700 of supplies on credit.

Required:

Prepare the journal entry on Popover's books for each transaction