Assume Down.com was organized on May 1, to compete with Despair.com-a company that sells de-motivational posters and office products. The following events occurred during the first month of Down.com's operations. Received $44,000 cash from the investors who organized Down.com Corporation. b. Borrowed $17,000 cash and signed a note due in two years. c. Ordered equipment costing $12,000. dPurchased $8,000 in equipment, paying $3,000 in cash and signing a six-month note for the balance Received the equipment ordered in (d), paid for half of it, and put the rest on account. 6.66 points Required 1. Summarize the financial effects of items (a)-(e) in a table (Enter any decreases to account balances with a minus sign.) Assets Accounts ST Notes LTNotes CashEquipment Beg 44,000 44,000 17,000 17 d. (3,000 (6,000 52,000 8,000 12,000 20,000 ,000 8,000 End. 17,000 60,000