The following events occurred for Favata Company: a. Received $18,000 cash from owners and issued stock to them. b. Borrowed $15,000 cash from a bank and signed a note due later this year. c. Bought and received $1,600 of equipment on account. d. Purchased land for $28,000; paid $2,600 in cash and signed a long-term note for $25,400. e. Purchased $11,000 of equipment; paid $2,600 in cash and charged the rest on account. Required: For each of the events in above, prepare journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. No Transaction General Journal Credit Debit 18,000 1 a Cash 18,000 2 b 15,000 Cash Accounts Payable 15,000 3 1,600 Equipment Accounts Payable 1,600 4 d Land 28,000 -2,600 X Cash Notes Payable (long-term) 25,400 5 e Equipment Cash Notes Payable (short-term) 11,000 -2,600 X >IX 8,400