Performance Plastics Company (PPC) has been operating for three years. The beginning account balances are During the year, the company had the following summarlzed actlvitles: a. Purchased equipment that cost $21,000; pald $5,000 cash and slgned a two-year note for the balance. b. Issued an additional 2,000 shares of common stock for $20,000 cash. c. Borrowed $50,000 cash from a local bank, payable June 30 , in two years. d. Purchased supplies for $4,000 cash. e. Bullt an addition to the factory bulldings for $41,000; pald $12,000 in cash and signed a three-year note for the balance. f. Hired a new president to start January 1 of next year. The contract was for $95,000 for each full year worked. Prepare the journal entries to record transactions (a) through ( f ). TIP: In transaction (e), three different accounts are affected. In transaction (f), consider whether PPC owes anything to its new president for the current year ended December 31 . (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet B C D E F Purchased equipment that cost $21,000; paid $5,000 cash and signed a tivo-year note for the balance. Record the transaction. Note: Enter debits before credits. Performance Plastics Company (PPC) has been operating for three years. The beginning account balances are During the year, the company had the following summarlzed actlvitles: a. Purchased equipment that cost $21,000; pald $5,000 cash and slgned a two-year note for the balance. b. Issued an additional 2,000 shares of common stock for $20,000 cash. c. Borrowed $50,000 cash from a local bank, payable June 30 , in two years. d. Purchased supplies for $4,000 cash. e. Bullt an addition to the factory bulldings for $41,000; pald $12,000 in cash and signed a three-year note for the balance. f. Hired a new president to start January 1 of next year. The contract was for $95,000 for each full year worked. Prepare the journal entries to record transactions (a) through ( f ). TIP: In transaction (e), three different accounts are affected. In transaction (f), consider whether PPC owes anything to its new president for the current year ended December 31 . (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet B C D E F Purchased equipment that cost $21,000; paid $5,000 cash and signed a tivo-year note for the balance. Record the transaction. Note: Enter debits before credits