The following events occurred for Favata Company: a. Received $15,500 cash from owners and issued stock to them. b. Borrowed $12,500 cash from a bank and signed a note due later this year. c. Bought and received $1,350 of equipment on account. d. Purchased land for $23,000; paid $2,100 in cash and signed a long-term note for $20,900. e. Purchased $8,500 of equipment; paid $2,100 in cash and charged the rest on account. Required:

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