Chad Polovick organized a new company, CapUniverse Inc. The company operates a small store in an area mall and specializes in baseball-type caps with logos printed on them. Chad, who is never without a cap, believes 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 Issued 2000 shares for $20 per share. May 1 Borrowed $60,000 from the bank to provide additional funding to begin operations. The note is due in two years with interest at 10 percent annually. May 1 Paid $1,500 for the current month's rent and another $1,500 for next month's rent. May 1 Paid $2,400 for a one-year fire insurance policy (recorded as a prepaid expense). May 3 Purchased furniture and fixtures for the store for $15,000 on account. The amount is due within 30 days. May 4 Purchased for $2,800 cash a supply of University of Waterloo, York University, and May 4 Purchased for $2,800 cash a supply of University of Waterloo, York University, and Saint Mary's University baseball caps to be sold online. May 5 Placed advertisements on Google for a total of $350 cash. May 9 Sold caps for a total of $1,700, half of which was charged on account. The cost of the caps sold was $900. May 10 Made full payment for the furniture and fixtures purchased on account on May 3. May 14 Received $210 from a customer on account. Required: Prepare a journal entry to record each of the transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)