P2-3 (Algo) Recording Transactions in T-Accounts, Preparing the Balance Sheet from a Trial Balance, and Evaluating the Current Ratio LO2-2, 2-4, 2-5 (GL) Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the collowing: During the current year, the company had the following summarized activities: a. Purchased short-term investments for $7,800 cash. b. Lent $5,700 to a supplier, who signed a two-year note. c. Leased equipment that cost $25,000; paid $5,900 cash and signed a five-year right-of-use lease for the balance. d. Hired a new president at the end of the year. The contract was for $92,000 per year plus options to purchase company stock at a set price based on company performance. The new president begins her position on January 1 of next year. e. Issued an additional 1,000 shares of $0.50 par value common stock for $17,000 cash. f. Borrowed $19,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $2,800 cash. h. Built an addition to the factory for $23,000; paid $8,200 in cash and signed a three-year note for the balance. i. Returned defective equipment to the manufacturer, receiving a cash refund of $2,500. Prepare journal entries for the transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field