Received exist83,000 cash invested by owners and issued common stock. Bought an unused field from a local farmer by paying exist73,000 cash. As a construction site for smaller projects, it is estimated to be worth exist78,000 to J.K. Builders. A lumber supplier delivered lumber supplies to J.K. Builders for future use. The lumber supplies would have normally sold for exist23,000, but the supplier gave J.K. Builders a 10 percent discount. J.K. Builders has not yet received the exist20, 700 bill from the supplier. Borrowed exist38,000 from the bank with a plan to use the funds to build a small workshop in August. The loan must be repaid in two years. One of the owners sold exist23,000 worth of his common stock to another shareholder for exist24,000. Prepare journal entries for the above transactions from the first month of business. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)