Prepare the entries below and upload the document with your name and question 33 The ABC Corporation was formed on January 1, 2019. The three initial owners each invested $100,000 cash and each received 10,000 shares of $1 par value common stock. Below are selected transactions that were completed during January, 2019. 1. Issue shares of common stock to the owners. 2. Borrowed $80,000 on a one-year note payable. 3. Purchased land by signing a $70,000 note payable. 4. Paid $10,000 of accounts payable. 5. Purchased two service vehicles for cash at a cost of $24,000 each. 6. Purchased $2,000 of supplies on credit. Prepare the journal entry on ABC's books for each transaction. Include a brief explanation for each entry