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Questions 5-7 of 130 v E2-11 Recording Journal Entries and Preparing a Classified Balance Sheet...

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Questions 5-7 of 130 v E2-11 Recording Journal Entries and Preparing a Classified Balance Sheet DLO 2-1, LO 2-3, LO 2-5] Assume Down.com was organized on May 1, to compete with Despair com-a company that sells de. motivational posters and office products. The following events occurred during the first month of Down com's operations. a. Received $42.000 cash from the investors who organized Down com Corporation b. Borrowed $15,000 cash and signed a note due in two years. c. Ordered equipment costing $24.000. signing a note for the belance d. Purchased $6,000 in paying $3,000 in cash and account e. Received the equipment ordered in (cy, pold for half of it, and put the rest on References Recording Journal Entries and Preparing classined Dalance Section Break

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