Record the following journal entries for Taylor Company for the month of March: Borrowed $4,500 from Local Bank and Trust Investors contributed $10,000 in cash for shares of stock Bought inventory costing $2,000 on credit Sold inventory that originally cost $400 for $600 on credit Purchased a new piece of equipment for $500 cash Collected $600 in cash from sale of inventory in (d) above Paid for inventory purchased in (c) above Paid $1,200 in cash for an insurance policy that covers the next year Employees earned $3,000 during the month but have not yet been paid Paid employees $2,900 for wages earned and recorded during February