5. (a, b, c, d, e)

J-K. Builders was incorporated on July 1 Prepare journal entries for the transactions from the first month of business (If no entry is required for a transactions/event. select "No Journal Entry Required" in the first account field.) Received $85,000 cash invested by owners and issued common stock. Record the transaction. Bought an unused field from a local farmer by paying $75,000 cash. As a construction site for smaller projects, it is estimated to be worth $80,000 to J.K. Builders. Record the transaction. A lumber supplier delivered lumber supplies to J.K. Builders for future use. The lumber supplies would have normally sold for $25,000, but the supplier gave J.K. Builders a 12 percent discount. J.K. Builders has not yet received the $22,000 bill from the supplier. Record the transaction. Borrowed $40,000 from the bank with a plan to use the funds to build a small workshop in August. The loan must be repaid in two years. Record the transaction. One of the owners sold $25,000 worth of his stock to another shareholder for $26,000. Record the transaction