Prepare journal entries to record each of the following transactions for the month of January: a. Borrowed $20,000 from a local bank; the loan is due in 9 months. b. Lent $11,800 to an affiliate; accepted a note due in one year. c. Sold to investors 70 additional shares of stock with a par value of $0.10 per share and a market price of $15 per share; received cash. d. Purchased $23,000 of equipment, paying $9,500 cash and signing a note for the rest due in one year. e. Declared $7,800 in cash dividends to stockholders, to be paid in February. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 5 Record the receipt of the bank loan of $20,000. Note: Enter debits before credits