5 1 Required information Assume Down, Inc, was organized on May 1 to compete with Despair, Inc.-a company that sells de motivational posters and office products. Down, Inc., encountered the following events during its first month of operations. a. Received $37.000 cash from the investors who organized Down, Inc. b. Borrowed $16,000 cash and signed a note due in two years Ordered equipment costing $19,000 d. Purchased $7.000 in equipment paying $2,000 in cash and signing a six-month note for the balance. e Received the equipment ordered in (.paid for half of it, and put the rest on account. 2. Prepare journal entries for each transaction of no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction llet moes Journal entry worksheet 2 3 4 5 > Received $37.000 cash from the investors who organized Down, Inc. Record the transaction Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal