Use the format that was given for A-K please ### Journal Entry Worksheet#### Transaction:**Issued 3,000 shares of $0.01 par value common stock to investors for cash at $30 per share.****Note:** Enter debits before credits.---#### Journal Entry Table| Transaction | General Journal | Debit | Credit ||-------------|------------------|-------|--------|| | | | || | | | || | | | || | | | || | | | || | | | |---Buttons for actions:- **[Record entry](#)**- **[Clear entry](#)**- **[View general journal](#)** ### Business Transactions Documentation for CapUniverse, Inc.**Background:**Ryan Terlecki 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.Below are the specific transactions for the month:1. **Issued Shares:** - Issued 3,000 shares of $0.01 par value common stock to investors for cash at $30 per share.2. **Borrowing:** - Borrowed $65,000 from the bank to provide additional funding to begin operations; the note is due in two years.3. **Rent Payment:** - Paid $2,900 cash for rent of a warehouse: $1,450 for the current month’s rent and another $1,450 for next month’s rent.4. **Insurance Payment:** - Paid $1,320 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense).5. **Purchase of Furniture and Fixtures:** - Purchased furniture and fixtures for the warehouse for $18,000, paying $2,800 cash and the rest on account. The amount is due within 30 days.6. **Inventory Purchase:** - 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.7. **Advertising Expenses:** - Placed advertisements on Google for a total of $330 cash; the ads were run immediately.8. **Sales:** - Sold caps totaling $2,300, half of which was charged on account.9. **Cost of Sold Caps:** - The cost of the caps sold in the previous transaction was $1,500.10. **Payment for Furniture and Fixtures:** - Made full payment for the furniture and fixtures purchased on account in transaction 5.11. **Customer Payment:** - Received $210 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.---#### Graphs/Diagrams Explanations

Name: Use the format that was given for A-K please ### Journal Entry Workshe
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Use the format that was given for A-K please ### Journal Entry Worksheet#### Transaction:**Issued 3,000 shares of $0.01 par value common stock to investors for cash at $30 per share.****Note:** Enter debits before credits.---#### Journal Entry Table|