3 Required information The following information applies to the questions displayed below! Business Sim Corporation (BSC) entered into the following four transactions: (a) issued 1,000 common shares to Kelly in exchange for $17,000. () Borrowed $38.000 from the bank, promising to repay it in two years. (c) Bought computer equipment by signing check number 101 in the amount of $43.000 and signing a promissory note for $6,000 due in six months. This loan contains a clouse ( covenant that requires Business Sim Corporation (BSC) to maintain a ratio of current assets to current liabilities of at least 1.8. (d) Received $850 of supplies and promised to pay for them in 30 days. 2-3. Prepare journal entries for the transactions described. 2-b. Prepare T-accounts. Assume all beginning balances are zero my wies die zero. oints Cash Supplies Debit Beginning Balance Credit Credit Debit Beginning Balance Book 38,000 C. b. Hint Ending Balance 38,000 Ending Balance Print Equipment Accounts Payable Debit 0 Credit Credit Beginning Balance Debit Beginning Balance References Ending Balance Ending Balance Notes Payable (long-term) Debit Beginning Balance Credit Notes Payable (short-term) Debit Beginning Balance Credit Ending Balance Ending Balance CH Common Stock Credit Debit Beginning Balance es Ending Balance Ren 2A