Question $2\mathrm{.}2($Total: $16$ marks$)$

Continental Breakfast Company was formed in $2023.$ During the year the company had the following events occur:

$1.$ The company issued $$100,000$ in common shares for cash.

$2.$ The company purchased equipment for $$15,000,$ paying $$5,000$ down and signing a $1-$year, $8\%$ note for the balance.

$3.$ The company hired $4$ employees.

$4.$ The company had sales of $$250,000.$ All sales were on account.

$$

Required

$1.$ Prepare the journal entries to record the above transactions.