PROBLEM 2 (5 points) Prepare the journal entry for each transaction in good form. (1 point each) 1. Purchased $2,000 of inventory on account. 2. Bought equipment worth $50,000 by paying $5,000 and signing a two-year note for the balance. 3. Paid for the inventory purchased in 1. above. 4. Sold 600 shares of $2 par value stock to investors for $4,000. 5. Workers earned wages of $300 which will be paid in January of next year