Time: 3 hours, 58 minutes, 01 second. Question Completion Status: For the following independent transactions, make the appropriate journal entry to record the transaction. a. The firm collected a note receivable of $8,000 on January 2. b. Paid a note payable of $16,000 on January 2. C. Acquired merchandise inventory costing $30,000 on January 21 with payment of $16,000 in cash and the remainder by credit. d. Issued an additional 400 shares of common stock for $125 per share on January 28. The par value of the stock is $100. e. On January 11, 2009, the firm pays 40,000 cash to rent office space, furnishings, and a warehouse for 12 months starting from February 1st, 2009. f. On February 20, the firm receives 22,000 from a customer for future merchandise shipments. g. March 12, the firm sells merchandise at a selling price of 70,000; the merchandise sold had cost Dugan 40,000. The customer agreed to pay Dugan in the second quarter. Save All Ans Click Save and Submit to save and submit. Click Save All Answers to save all answers