a The company purchased equipment for $4,800 cash. The equipment is expected to be used for 10 or more years. b. Joel's business bought $7,800 worth of inventory from a publisher. The company will pay the publisher within 45-60 days. c. Joel's friend Sam lent $4,800 to the business. Sam had Joel write a note promising that Bookmart.com would repay the $4,800 in four months. Because they are good friends, Sam is not going to charge Joel interest. d. The company paid $1,900 cash for books purchased on account earlier in the month. e. Bookmart.com repaid the $4,800 loan established in (c) Prepare journal entries for the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 The company purchased equipment for $4,800 cash. The equipment is expected to be used for 10 or more years. Record the transaction.