What is the present value of cash flow Series Q? Transactions for the current year as follow: a. Borrowed $7,000 from a local bank, signing a note due in three years. b. Sold $4,500 of the investments for $4,500 cash. c. Sold one-half of the property and equipment for $2,100 in cash. d. Declared $2,000 in cash dividends to stockholders. e. Paid dividends to stockholders. Prepare journal entries for the transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Higgins Company began operations last year. You are a member of the management team investigating expansion ideas that will require borrowing funds from banks. On January 1, the start of the current year, Higgins' T-account balances were as follows: Assets: Liabilities: Stockholders' Equity: Transactions for the current year as follow: a. Borrowed $7,000 from a local bank, signing a note due in three years. b. Sold $4,500 of the investments for $4,500 cash. c. Sold one-half of the property and equipment for $2,100 in cash. d. Declared $2,000 in cash dividends to stockholders. e. Paid dividends to stockholders