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Required information E2-11 (Algo) Recording Journal Entries and Preparing a Classified Balance Sheet [LO 2-1, LO 2-2, LO 2-4, LO 2-5] [The following information applies to the questions displayed below.] Assume Down, Incorporated, was organized on May 1 to compete with Despair, Incorporated-a company that sells demotivational posters and office products. Down, Incorporated, encountered the following events during its first month of operations. a. Received $33,000 cash from the investors who organized Down, Incorporated b. Borrowed $18,000 cash and signed a note due in two years. c. Ordered equipment costing $15,000. d. Purchased $9,000 in equipment, paying $2,000 in cash and signing a six-month note for the balance. e. Received the equipment ordered in (c), paid for half of it, and put the rest on account. E2-11 (Algo) Part 2 Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 234 Received $33,000 cash from the investors who organized Down, Incorporated Record the transaction. Note: Enter debits before credits. Journal entry worksheet 5 Borrowed $18,000 cash and signed a note due in two years. Record the transaction. Note: Enter debits before credits. Journal entry worksheet Ordered equipment costing $15,000. Record the transaction. Note: Enter debits before credits. Journal entry worksheet 1 Purchased $9,000 in equipment, paying $2,000 in cash and signing a sixmonth note for the balance. Record the transaction. Note: Enter debits before credits. Journal entry worksheet Received the equipment ordered in (c), paid for half of it, and put the rest on account. Record the transaction. Note: Enter debits before credits