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Refer to E2-4.
a. Received $ 10,000 cash from owners and issued stock to them.
b. Borrowed $ 7,000 cash from a bank and signed a note due later this year.
c. Bought and received $ 800 of equipment on account.
d. Purchased land for $ 12,000; paid $ 1,000 in cash and signed a long- term note for $11,000.
e. Purchased $ 3,000 of equipment, paid $ 1,000 in cash and charged the rest on account.
Required:
For each of the events in E2- 4, prepare journal entries, checking that debits equal credits.
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