Chad Polovick organized a new company. CapUniverse Inc. The company operates a small store in an area moll and specializes in baseball-type caps with logos printed on them. Chad, who is never without a cap, befleves that his target market is college students. You have been hired to record the transactions occurring in the first two weeks of operations: May 1 fisued 1, 35e shares for $35 per share. May 1 Bornowed 543,56y froin the bank to provide additional funding to begin operations. The Hote is dun In two rears with interest. at 10 percent annually. May 1 Paid 51,550 for the current monthis rent-and another $1,550 for noxt wonth's rent. May 1 Paid 32,220. for a one-year fire insurance policy (recorded as a prepaid expense). May 3 Purchased furniture and fixtures for the store for $18,700 an accourit. The anount is due within 318 days. May 4 Purchased for $2, ad cash a supply of Universlity of Waterleo, York University, and 5 aint Mary's University baseball copo to be sold online. May 5. Placed advertisiments on Googlo for a total of $430 cash. Nay 9 Sold caps for a total of \$57e, half of which was charked on account. The cost of the caps sols was 539 . May 10 Made full paynent for the furniture and fixtures purchased on account on May 3. May 14 meceived 5170 from a customer on account. Required: Prepare a journal entry to record each of the transactions. (If no entry is required for a transoctionievent, select "No journal entry required" in the first account field.)