At the beginning of August, Joel Henry founded Bookmart.com, which sells new and used books online. He is passionate about books but does not have a lot of accounting experience. The following is a list of events for the company. a. The company purchased equipment for $4,500 cash. The equipment is expected to be used for 10 or more years. b. Joel's business bought $7,500 worth of inventory from a publisher. The company will pay the publisher within 45-60 days. c. Joel's friend Sam lent $4,500 to the business. Sam had Joel write a note promising that Bookmart.com would repay the $4,500 in four months. Because they are good friends, Sam is not going to charge Joel interest. d. The company paid $1,750 cash for books purchased on account earlier in the month. e. Bookmart.com repaid the $4,500 loan established in (c). Required: 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 2 3 4 5 The company purchased equipment for $4,500 cash. The equipment is expected to be used for 10 or more years. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal