Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2015): a.Borrowed $18,315 from banks due in two years. b.Purchased additional investments for $25,500 cash; one-fifth were long term and the rest were short term. c.Purchased property, plant, and equipment; paid $9,621 in cash and signed a short-term note for $1,458. d.Issued additional shares of common stock for $1,517 in cash; total par value was $1 and the rest was in excess of par value. e.Sold short-term investments costing $19,055 for $19,055 cash. f.Declared $11,175 in dividends to be paid at the beginning of the next fiscal year.

Required: 1. Prepare a journal entry for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions.)

2. Create T-accounts for each balance sheet account. Post each transaction to the appropriate T-accounts (Enter your answers in millions.)

Starfruit Inc., headquartered in Ridgway, Colorado, designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players and sells a variety of related software and services. The following is Starfruit's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September). STARFRUIT INC. CONSOLIDATED BALANCE SHEET September 27, 2014 (dollars in millions) ASSETS Current assets: Cash 14,114 Short-term investments 11,449 Accounts receivable 17,792 Inventories 2,146 Other current assets 24,276 Total current assets 69,777 Long-term investments 132,530 Property, plant, and equipment, net 20,999 Other noncurrent assets 12,754 Total assets 236,060 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable 30,749 Accrued expenses 18,793 Unearned revenue 8,653 Short-term notes payable 6,424 Total current liabilities 64,619 Long-term debt 29,524 Other noncurrent liabilities 28,367 Total liabilities 122,510 Stockholders' equity: Common stock ($0.00001 per value) 1 Additional paid-in capital 25,912 Retained earnings 87,637 Total stockholders' equity 113,550 Total liabilities and shareholders' equity 236,060