ABC Company started operations at the beginning of February 20XX. The Company sells new and used golf equipment online. The following events occurred in February: a. Borrowed $50, 000 cash from a bank signing a note due in three years. b. Received investment of cash by organizers and distributed to them 1, 000 shares of 0.20 par value common stock with a market price of $20 per share. c. Purchased a warehouse for $125, 000 paying $25, 000 in cash and signing a note payable for the balance on a 10-year mortgage. d. Purchased computer and office equipment for $22, 000, paying $5, 000 in cash and owning the rest on accounts payable to the manufacturers e. Loaned $2, 000 to an employee who signed a note due in three months. f. Paid $3, 000 to the manufacturer in (d) above. g. Purchased short term investments for $15, 000 cash. Required: Requirement 1. For each of the above events prepare a journal entry and show your work below:
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