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Ryan Tertecki 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 coliege and high school students. You have beerhired to record the transactions occurring in the first month of operations. a. Issued 2,200 shares of $0.01 par value common stock to lnvestors for cash at $22 per share. b. Borrowed $64,000 from the bank to provide additional funding to begin operations: the note is due in two years. c. Pald $2,700 cash for rent of a warehouse: $1,350 for the current month's rent and another $1,350 for next month's rent d. Pald $2,040 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense). e. Purchased furniture and fxxtures for the warehouse for $11,000, paying $2,600 cash and the rest on account. The amount is due within 30 days: 1. Purchased for $3,200 cash Indiana University, University of Washington, Notre Dame, The University of Texas at Austin, The Ohio State University, and Michigan State Unlversity baseball caps as inventory to sell online. 9. Placed advertisements on Google for a total of $270 cash; 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. f Made full payment for the futniture and foxtures purchased on account in (e). k. Recelvend $240 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. Journal entry worksheet Issued 2,200 shares of $0.01 par value common stock to investors for cash at $22 per share. Note: Enter debits before credits. Journal entry worksheet 45678 Borrowed $64,000 from the bank to provide additional funding to begin operations; the note is due in two years. Note: Enter debits before credits. Journal entry worksheet 4567811 Paid $2,700 cash for rent of a warehouse: $1,350 for the current month's rent and another $1,350 for next month's rent. Notes: Enter debits before credits. Journal entry worksheet 67811 Paid $2,040 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 fixtures for the warehouse for $11,000, paying $2,600 cash and the rest on account. The amount is due within 30 days. Note: Enter debits before credits. Journal entry worksheet Purchased for $3,200 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. Journal entry worksheet Placed advertisements on Google for a total of $270 cash; the ads were run immediately. Note: Enter debits before credits. Journal entry worksheet 124567 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. Journal entry worksheet 4 5 6 7 8 11 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. Journal entry worksheet