Connect Homework #1 Saved Help Save & Exit Submit Check my work The following events occurred for Johnson Company a. Received investment of cash by organizers and distributed to them 1,120 shares of $1 par value common stock with a market price of $40 per share b. Leased $7,600 of equipment, paying $1,800 in cash and signing a long-term right-of-use lease for the rest owed. c. Borrowed $5,000 cash from a bank d. Loaned $1,500 to an employee who signed a note due in six months e. Purchased $22,000 of land; paid $8,000 in cash and signed a note for the balance Required: Prepare journal entries for the above transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < 1 2 3 4 5 < Prev 5 of 11 Next >