The following are the first transactions for Morgan Company. 1/1 Morgan sold 5,000 shares of its $10 par value common stock for $45 each B 1/1 Morgan Sold $250,000 face value 15 year 8% stated rate bonds priced to yield 6%. The bonds paid interest semi-annually on 6/30 and 12/31. 5-Jan Morgan paid $200,000 for a building and land. The estimated value of the building was $175,000 and the land $95,000 The building has an economic life of 30 years. They use straight line depreciation. D 8-Jan Morgan signed an 8 year lease agreement to acquire some equipment. The life of the equipment is 8 years. The agreement calls for beginning of year payments. A reasonable interest rate would be 8%. The estimated salvage value of the equipment is $3,000. E 1-Feb Morgan purchased $40,000 of inventory on account. F 1-Mar Morgan sold half of the above inventory for $65,000 on account. G 1-Apr Morgan Collected $10,000 on account. H 1-May Morgan paid 8,000 on account. 1-Jun Morgan purchased a 3 year fire insurance policy for $4,500. J 1-Nov Morgan lend Pearson 90,000. Pearson signed a 90 day 8% Note. K 31-Dec Morgan estimates that 5% of ending receivables will go bad. Make all entries that would be required by Morgan. Include all adjusting entries. Assume they make all payments that they are required to make and that other's make all payments that they are required to make