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P3-2 (Algo) Recording Journal Entries LO3-4 Ryan Teriecki 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 2.800 shares of $0.01 par value common stock to investors for cash at $28 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 $2,600 cash for rent of a warehouse: $1,300 for the current month's rent and another $1,300 for next month's rent. d. Paid $1,560 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense). e. Purchased furmiture and fixtures for the warehouse for $17000, paying $3,400 cash and the rest on account. The amount is due within 30 days \& Purchased for $3,800 cash Indiana University, University of Washington, Notre Dame, The University of Texas at Austin, The Ohio State University, and Michigan State University basebali caps as inventory to sell online 9. Placed advertisements on Google for a total of $290cash, the ads were run immediately h Sold caps totaling $2,300, half of which was charged on account. 1. The cost of the caps sold in (h) was $1,500. 1. Made full payment for the furnture and fixtures purchased on account in (e) k. Fleceived $240 from a customer on account. Required: Prepare journal entries for each trarisaction Note: If no entry is required for a transoction/event, select "No joumal entry required" in the first account fleld. Required: Prepare journal entries for each transaction. Note: If no entry is required for o tronsoction/event, select "No journal entry required" in the first account field. Journal entry worksheet 567811 Borrowed $65,000 from the bank to provide additional funding to begin operations; the note is due in two years. Noles Enter debits before credits Required: Prepare joumal entries for each transaction. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet \langle Paid $2,600 cash for rent of a warehouse: $1,300 for the current month's rent and another $1,300 for next month's rent. Note: Enter debits belore credte. Journal entry worksheet Paid $1,560 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense). Note: Enter debits before credits. Journal entry worksheet purchased furniture and foxtures for the warehouse for $17,000, paying $3,400 cash and the rest on account. The amount is due within 30 days. Hoter Erter debits before credits Journal entry worksheet Purchased for $3,800 cash Indiana University, University of Washington, Notre Dame, The University of Texas at Austin, The Ohio 5 tate University and Michigan State University baseball caps as inventory to sell online. Note: Enter debits before credts. Prepare journal entries for each transaction. Note: If no entry is required for a transoction/event, select "No journal entry required" in the first account field. Journal entry worksheet 23456 811 Placed advertisements on Google for a total of $290 cash; the ads were run immediately. Note: Enter debits before credits. Journal entry worksheet 1234 5 6 7 Record the entry for the sale of caps totaling $2,300, half of which was charged on account. The cost of the caps sold was $1,500. Note: Enter debits before credits. Required: Prepare journal entries for each transaction. Note: If no entry is required for o transoction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the entry for the cost of the sale of caps, which was sold for $2,300, half of which was charged on account. The cost of the caps sold was $1,500. Note: Enter debits before credits Required: Prepare joumal entries for each transaction. Note: If no entry is required for a tronsoction/event, select "No journal entry required" in the first account field. Journal entry worksheet