The following events occurred for Mitka Ltd.:

a.Received investment of $33,000 cash by organizers.b.Purchased land for $20,000in land; paid $7,000 in cash and signed a mortgage note with a local bank for the balance (due in five years).

c.Borrowed cash from a bank and signed a note for $12,000.d.Lent $1,300 to an employee who signed a note due in three months.e.Paid the bank the amount borrowed in (c).f.Purchased $10,000 of equipment, paying $5,000 in cash and signing a note due to the manufacturer.

Required:Prepare journal entries for the above transactions.