The following events occurred for Johnson Company:

a$.$ Received investment of cash by organizers and distributed to them $1,090$ shares of $$1$ par value common stock with a market

price of $$45$ per share.

b$.$ Leased $$7,700$ of equipment, paying $$1,300$ in cash and signing a long$-$term right$-$of$-$use lease for the rest owed

c$.$ Borrowed $$12,000$ cash from a bank.

d$.$ Loaned $$1,000$ to an employee who signed a note due in six months.

e$.$ Purchased $$20,000$ of land; paid $$5,000$ in cash and signed a note for the balance.

Required:

Prepare journal entries for the above transactions.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

Record the receipt of cash and the distribution of $1,090$ shares of $$1$ par value

common stock with a market price of $$45$ per share

Note: Enter debits before credits. $2.$ Record the $$7,700$ lease of equipment with $$1,300$ cash and the rest on long$-$term right$-$of$-$use lease. $3.$ Record $$12,000$ cash borrowed from bank. $4.$ Record $$1,000$ loan to an employee who signed a note due in six months. $5.$ Record the $$20,000$ land purchase paid with $$5,000$ cash and a note for the balance.