The following events occurred for Johnson Company:

1. Received investment of cash by organizers and distributed to them 1,090 shares of $1 par value common stock with a market price of $10 per share.
2. Purchased $7,100 of equipment, paying $1,100 in cash and owing the rest on accounts payable to the manufacturer.
3. Borrowed $14,000 cash from a bank.
4. Loaned $1,300 to an employee who signed a note.
5. Purchased $18,968 of land; paid $9,000 in cash and signed a mortgage note for the balance.