On December 1, 2021, George and Myra started a corporation called Caper Rental Equipment. corporation began operations immediately as they were able to purchase assets from a local c called The Rental Place that went out of business. The newly opened business, Caper Rental Eq uses the following accounts for their operations: Caper Rental Equipment performs adjusting entries monthly. Closing entries are performed annually December 31". During December, the company entered the following transactions: - December 15. Issued 20,000 shares of contributed capital in exchange for $200,000 cash. - December 1. Purchased all of the equipment formerly owned by The Rental Place for $240,6 Paid $140,000 cash and signed a two year note payable for the balance. On December 1, 2021, George and Myra started a corporation called Caper Rental Equipment. corporation began operations immediately as they were able to purchase assets from a local c called The Rental Place that went out of business. The newly opened business, Caper Rental Eq uses the following accounts for their operations: Caper Rental Equipment performs adjusting entries monthly. Closing entries are performed annually December 31". During December, the company entered the following transactions: - December 15. Issued 20,000 shares of contributed capital in exchange for $200,000 cash. - December 1. Purchased all of the equipment formerly owned by The Rental Place for $240,6 Paid $140,000 cash and signed a two year note payable for the balance