Recelved $79,000 cash invested by owners and issued common stock. Bought an unused field from a local farmer by paying $69,000 cash. As a construction site for smaller projects, it is estimated to be worth $74,000 to J.K. Bullders: A lumber supplier delivered lumber supplies to J.K. Buliders for future use, The lumber supplies would have normally sold for $19,000, but the supplier gave J.K. Builders a 12 percent discount. J.K. Builders has not yet received the $16,720 bilif from the supplier. 8. Borrowed $34,000 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. c. One of the owners sold $19,000 worth of his common stock to another shareholder for $20,000. Required: 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.) Journal entry worksheet 2345 Recelved $79,000 cash invested by owners and issued common stock. Record the transaction. Note: finter debits before credits