5 Jameson Corporation was organized on May 1. The following events occurred during the first month.Received $70,000 cash and a building valued at $250,000 from the five investors who organized Jameson Corporation. Eachinvestor received 100 shares of $10 par value common stock.b. Ordered store fixtures costing $15,000.c. Borrowed $18,000 cash and signed a note due in two years.d. Purchased $11,000 of equipment, paying $1,500 in cash and signing a six-month note for the balance.e. Lent $2,000 to an employee who signed a note to repay the loan in three months.f. Received and paid for the store fixtures ordered in (b).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.View transaction listHelpJournal entry worksheet

The journal entries are prepared to record the transactions on regular basis. The adjustment entries…

Jameson Corporation was organized on May 1. Th Received $70,000 cash and a building value investor received 100 shares of $10 par valu b. Ordered store fixtures costing $15,000. c. Borrowed $18,000 cash and signed a note c d. Purchased $11,000 of equipment, paying $1, e. Lent $2,000 to an employee who signed a r f. Received and paid for the store fixtures orde Required: