$-$a$.$ Prepare journal entries for the transactions described.

$-$b$.$ Prepare T$-$accounts. Assume all beginning balances are zero.

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Prepare journal entries for the transactions described. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

$\backslash$table$[[$No$,$Transaction,General Journal,Debit,Credit,$],[1,$a$,$Cash,$,20,000,],[,,$Common Stock,,$20,000,],[,$Cash,$,44,000,,],[,$Notes Payable $($long$-$term$),,49,000,44,000,],[,,$Equipment,$,,7,000$