Jameson Corporation was organized on May 1. The following events occurred during the first month. a. Received $72,000 cash and a building valued at $250,000 from the five investors who organized Jameson Corporation. Each investor received 109 shares of $10 par value common stock. b. Ordered store fixtures costing $16,000. c. Borrowed $18,000 cash and signed a note due in two years. d. Purchased $15,000 of equipment, paying $1,400 in cash and signing a six-month note for the balance. e. Lent $1,400 to an employee who signed a note to repay the loan in three months. f. Received and paid for the store fixtures ordered in (b). Required: Prepare journal entries for each transaction. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

Jameson Corporation was organized on May 1 . The following events occurred during the first month. a. Received $72,000 cash and a building valued at $250,000 from the five investors who organized Jameson Corporation. Each investor received 109 shares of $10 par value common stock. b. Ordered store fixtures costing $16,000. c. Borrowed $18,000 cash and signed a note due in two years. d. Purchased $15,000 of equipment, paying $1,400 in cash and signing a six-month note for the balance: e. Lent $1,400 to an employee who signed a note to repay the loan in three months. f. Received and paid for the store fixtures ordered in (b). Required: Prepare journal entries for each transaction. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field