2. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Reqi the first account field.) Journal entry worksheet Note: Enter debits before credits. E2-12 Recording Journal Entries and Preparing a Classified Balance Sheet [LO2-1, LO2-3, LO2-5] Assume Downer.com was organized on May 1, to compete with Despair, Inc.-a company that sells de-motivational posters and office products. The following events occurred during the first month of Downer.com's operations. a. Recelved $60,000 cash from the investors who organized Downer.com Corporation. b. Borrowed $20,000 cash and signed a note due in two years. c. Ordered computer equipment costing $16,000. d. Purchased $9,000 in equipment, paying $2,000 in cash and signing a six-month note for the balance. e. Recelved the equipment ordered in (c), paid for half of it, and put the rest on account: Required: 1. For each of the events (o) through (e), perform transaction analysis and indicate the amount of effect on the accounting equation. (Enter any decreases to account balances with a minus sign.) 2. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" the first account field.) Journal entry worksheet Received the equipment ordered in (c), paid for half of it, and put the rest on account. Note: Enter debits before credits. 2. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Received $60,000 cash from the investors who organized Downer.com Corporation. Note: Enter debits before credits. 2. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Purchased $9,000 in equipment, paying $2,000 in cash and signing a six. month note for the balance. Note: Enter debits before credits. 2. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Borrowed $20,000 cash and signed a note due in two years. Notez Enter debits before credits: 3. Prepare a classified balance sheet at May 31 . Include retained earnings with a balance of zero