1. Prepare journal entries

1a. Purchased merchandise and paid $2,000 in cash

1b. Purchased an equipment and paid $15,000 in cash

2a. Paid $7,000 of bank loans

2b. Paid $3,000 accounts payable

3a. Paid $3,500 rent expense

3b. Paid $6,000 salaries expense

4a. Sold merchandise and received $6,500 in cash. The cost of merchandise sold was 5,100

4b. Sold an equipment of value $ 8,600 and receive cash

5a. Borrowed $9,000 in cash

5b. Issued a promissory note and received $11,000 in cash