Journal entry worksheet < 1 2 3 4 5 6 7 8 11 Placed advertisements on Google for a total of $280 cash; the ads were run immediately. Note: Enter debits before credits. Transaction g. General Journal Debit Credit View general journal Record entry Clear entry Journal entry worksheet < 1 2 3 4 5 6 7 8 11 > Purchased for $3,000 cash Indiana University, University of Washington, Notre Dame, The University of Texas at Austin, The Ohio State University, and Michigan State University baseball caps as inventory to sell online. Note: Enter debits before credits. Transaction f. General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 7 8 11 > Record the entry for the sale of caps totaling $2,200, half of which was charged on account. The cost of the caps sold was $1,400. Note: Enter debits before credits. Transaction h. General Journal Debit Credit View general journal Record entry Clear entry Journal entry worksheet 1 4 5678 9 11 Record the entry for the cost of the sale of caps, which was sold for $2,200, half of which was charged on account. The cost of the caps sold was $1,400. Note: Enter debits before credits. Transaction i. General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 4 56789 10 10 11 > Made full payment for the furniture and fixtures purchased on account in (e). Note: Enter debits before credits. Transaction j. General Journal Debit Credit View general journal Record entry Clear entry Journal entry worksheet 1 4 5678910 11 Received $260 from a customer on account. Note: Enter debits before credits. Transaction k. General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 6 7 8 11 > Paid $2,200 cash for rent of a warehouse: $1,100 for the current month's rent and another $1,100 for next month's rent. Note: Enter debits before credits. Transaction C. General Journal Debit Credit View general journal Record entry Clear entry Journal entry worksheet 1 2 3 4 5 6 7 8 11 Purchased furniture and fixtures for the warehouse for $16,000, paying $2,900 cash and the rest on account. The amount is due within 30 days. Note: Enter debits before credits. Transaction e. General Journal Debit Credit View general journal Record entry Clear entry P3-2 (Algo) Recording Journal Entries LO3-4 Ryan Terlecki organized a new Internet company, CapUniverse, Incorporated. The company specializes in baseball-type caps with logos printed on them. Ryan, who is never without a cap, believes that his target market is college and high school students. You have been hired to record the transactions occurring in the first month of operations. a. Issued 2,400 shares of $0.01 par value common stock to investors for cash at $24 per share. b. Borrowed $65,000 from the bank to provide additional funding to begin operations; the note is due in two years. c. Paid $2,200 cash for rent of a warehouse: $1,100 for the current month's rent and another $1,100 for next month's rent. d. Paid $2,040 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense). e. Purchased furniture and fixtures for the warehouse for $16,000, paying $2,900 cash and the rest on account. The amount is due within 30 days. f. Purchased for $3,000 cash Indiana University, University of Washington, Notre Dame, The University of Texas at Austin, The Ohio State University, and Michigan State University baseball caps as inventory to sell online. g. Placed advertisements on Google for a total of $280 cash; the ads were run immediately. h. Sold caps totaling $2,200, half of which was charged on account. i. The cost of the caps sold in (h) was $1,400. j. Made full payment for the furniture and fixtures purchased on account in (e). k. Received $260 from a customer on account. 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. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 11 Issued 2,400 shares of $0.01 par value common stock to investors for cash at $24 per share. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal 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 fie View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 11 Borrowed $65,000 from the bank to provide additional funding to begin operations; the note is due in two years. Note: Enter debits before credits. Transaction b. General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 6 7 8 11 Paid $2,040 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense). Note: Enter debits before credits. Transaction d. General Journal Debit Credit View general journal Record entry Clear entry