Ryen Terlecki organized B new Internet company, CapUniverse, Inc. 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 two weeks of operations. Issued 2.000 shares of $0.01 per value common took to investors for cash at S20 per share. Borrowed $86.000 from the bank to provide additional funding to begin operations; the role is due in two years. Paid $1, 200 for the current month's rent of a warehouse and another $1, 200 next month's rent. Paid S2, 280 for a one-year fie insurance policy on the warehouse (recorded as a prepaid expense) purchase and fixtures for the warehouse for $15,000, paying S3, 300 cash and the rest on account. The amount is due within 30 days. Purchased for $3, 400 cash The University of Pennsylvania, Notre Dame, The University of Texas at Austin and Michigan State University baseball caps as inventory to sell online. Placed advertisements on Google for a total of $250 cash. Solo caps totaling $2, 200, half of which was charged on account. The cost of the cap old was $1, 400. Made full payment for the furniture and fixtures purchased on account in (). Received $290 from a customer an account. Required: Prepare journal entries for each transaction Note that transaction (h) will require two entries, one for revenue and one for the related expense. (if no entry is required for a transaction/event, select No journal entry required in the first account field. Record issue of $ 2,000 shares of $.01 per value common stock to investors for cash at $20 per share. Record borrowing from bank for S88,000 with the note due in 2 years. Record payment of current month rent of $1, 200 and month's rent of $1.200 Record purchases of one year fire in Policy on the warehouse for S2, 280 (record as a prepaid expense) Record the purchase of furniture and fixtures for $15,000 with $3, 300 Payment made and the rest on account and due within 30 days Record purchase of baseball cap inventory for $3, 400 cash. Record placement of advertisement for $250 cash