The following events occurred for Johnson Company: Received investment of cash by organizers and distributed to them 1,110 shares of $1 par value common stock with a market price of $45 per share. Leased $8,400 of equipment, paying $2,000 in cash and signing a long-term right-of-use lease for the rest owed. Borrowed $12,000 cash from a bank. Loaned $1,200 to an employee who signed a note due in six months. Purchased $22,000 of land; paid $9,000 in cash and signed a note for the balance.