Barley & Hops Company was formed in 2020. During the year the company had the following events occur: 1. The company issued $100,000 in common shares for cash. The company purchased equipment for $15,000, paying $5,000 down and signing a 1-year, 2. 8% note for the balance. 3. The company hired 4 employees. 4. The company had sales of $250,000. All sales were on account. The company incurred the following expenses: rent: $2.000, salaries: $20,000, advertising 5. $2.000 and utilities $4,000. All expenses were paid in cash Required: Prepare the journal entries to record the above transactions, Prepare adjusting entries dated December 31, 2020, based on the following data. a. A two-year insurance policy costing $6,000 was purchased on October 31, 2020. b. Salaries owed to employees on December 31, 2020, amount to $4,600. The balance in Supplies before adjustment is $2,800. A physical count reveals $900 of supplies on hand on December 31, 2020. d. Depreciation on office equipment for the year is $1,869. C