accounting

12 2 of 4 Required information [The following information applies to the questions displayed below) Business Sim Corporation (BSC) entered into the following four transactions: (a) Issued 1.500 common shares to Kelly in exchange for $23,000. (b) Borrowed $44,000 from the bank, promising to repay it in two years. (c) Bought computer equipment by signing check number 101 in the amount of $49,000 and signing a promissory note for $7.000 due in six months. This loan contains a clause "covenant") that requires Business Sim Corporation (BSC) to maintain a ratio of current assets to current liabilities of at least 22. (d) Received $1150 of supplies and promised to pay for them in 30 days 2-a. Prepare journal entries for the transactions described 2-b. Prepare T-accounts. Assume all beginning balances are zero. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 2A Reg 28 Prepare T-accounts. Assume all beginning balances are zero. Cash Supplies Credit Credit Debit Beginning Balance Deba Beginning Balance Ending Balance Ending Balance Equipment Accounts Payable Credit Crodle Deble Beginning Balance Debit Beginning Balance 12 Required Information Eman urg Beginning Balance DOM Beginning Balance 2 of 4 Ending Balance Ending Balance Equipment Accounts Payable Credit Debat Beginning Balance Credit Debat Beginning Balance Ending Balance Ending Balance Notes Payable long-term) Debit Beginning Balance Credit Notes Payalile (short) Deb Beginning Balance Ending Balance Ending Balance Common Stock Credit Dahit Beginning Balance Ending Balance months. This loan contains a clause "covenant that requires Business Sim Corporation (BSC) to maintain a ratio of current assets to current abilities of at least 22. (d) Received $1150 of supplies and promised to pay for them in 30 days 3. Assuming BSC entered into no other activities during its first year ended September 30, prepare the company's classified balance sheet Include a balance of zero in Retained Earings. BUSINESS SIM CORPORATION Balance Show