Prepare regular journal entries, adjusting journal entries, or closing journal entries for #1-#7 below. 1. On November 1, 2020, Cook Inc. issued 10,000 shares of $2 par value Common Stock for $26 per share. Prepare JE for the issuance of the stock. 2. On November 1, 2020, Cook Inc. purchases equipment for $25,000 with cash. At the time of purchase, Cook Inc. estimates the salvage value is $1,000 and Cook Inc. expects to use the equipment for 8 years. Prepare the JE for the purchase of equipment. 3. On November 1, 2020, Cook Inc. borrows $100,000 from a bank. Cook Inc. will repay the loan in 3 years. The annual interest rate is 6%. Prepare the JE for the loan. 4. On December 15, 2020, Cook Inc. sells inventory worth $50,000 for $275,000. The customers pay cash. Cook Inc. uses FIFO as its inventory costing method. 5. At 12/31/2020 prepare any adjusting entry(ies) necessary related to #2 above. 6. At 12/31/2020 prepare any adjusting entry(ies) necessary related to #3 above. 7. The final balance for the year in the Dividends account is $7,000 (normal balance). Prepare the closing entry for Dividends, if one is required. If one is not required, state that.