Prepare the journal entries for the following transactions: 

a) Bought land for 15,000 shares with a $35 per share market value. 

b) Paid six months' rent in advance for a total of $6,000. 

c) Paid insurance premiums for the year in the amount of $8,000. 

d) Bought a building for $250,000. Paid one-fifth in cash and the balance with a 10-year, 6% interest note payable. 

e) Purchased $20,000 of merchandise inventory on credit. 

f) Paid utility bill for $450.

 g) Sold $8,000 of merchandise inventory for $12,000 on credit. 

h) Collected a $10,000 cash deposit from customers for custom orders.

 i) Paid salaries and wages of $8,500.

 j) Paid $8,000 on merchandise inventory previously purchased in part e). 

k) Received $7,000 from customers on account.

 l) Declared and paid a $5,000 dividend.